Photo of Mr Wolfowitz courtesy of Google Images
In a statement to a panel of World Bank directors, the embattled chief said he was the victim of a "smear campaign".
Mr Wolfowitz was defending himself against accusations that he pushed through a huge pay package for his girlfriend without the Bank's consent.
The committee is due to report to the Bank's board of 24 representatives, who will decide on the president's fate.
Mr Wolfowitz has apologised for his actions, vowing to stay on to complete what he called "important work".
Earlier, US President George W Bush said he believed Mr Wolfowitz "ought to stay" in his job. I will not resign, says Wolfowitz
Mark Alexander