Paul Wolfowitz: I Will Not Resign

The President of the World Bank Paul Wolfowitz announced he is not going to give his resignation at a press conference in Washigton on Sunday.

"I believe in the mission of this organization, and I believe I can carry it. This is important work and I intend to continue it," Wolfowitz explained.

Wolfowitz, a former key member of US President Bush's administration and one of the main architects of the war in Iraq, admitted earlier this week to helping his girlfriend, Libyan-born Shaha Riza, to land a top job at the US State Department, paid by the bank.