Treasury Official Named CPA Adviser to Iraqi Finance Ministry

Treasury Department official George Wolfe has been appointed as counselor to Treasury Secretary John Snow and will serve as the primary U.S. liaison on Iraqi budget matters in Baghdad as the country prepares for the June 30 power transition to Iraqi authorities, the Treasury Department announced March 18.

According to a Treasury Department statement, Wolfe will serve as the director of the CPA Office of Management and Budget and the CPA senior adviser to the Ministry of Finance, where he will address budget and related finance matters affecting the economic reconstruction of Iraq.

"The next few months are critical for Iraq's transition to democracy. Enormous progress has been made, but there's still a lot to do. I am eager to get on the ground and go to work," said Wolfe, as quoted in the statement.

Following is the text of the Treasury Department statement:

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FROM THE OFFICE OF PUBLIC AFFAIRS

March 18, 2004


Wolfe Slated to Head Budgetary Matters in Iraq Reconstruction

Snow's Trusted Advisor Named Counselor to the Secretary

Treasury Secretary John W. Snow announced today the appointment of George B. Wolfe to the role of Counselor to the Secretary. Wolfe departs Monday for Baghdad, where his efforts will be devoted to budget and related finance matters concerning the economic reconstruction of Iraq.

"Though his know-how, professionalism and unquestionable character will be missed here at home, we recognize George's expertise is needed in Iraq," said Secretary Snow. "George Wolfe is the right person to help guide Iraq towards the growth and prosperity it was starved for under the fallen regime."

"While in Iraq, George will serve as the Director of the CPA Office of Management and Budget. George will also be the CPA senior advisor to the Ministry of Finance, serving as the primary U.S. liaison on Iraqi budget matters as Iraq readies for June 30, 2004 -- the day when the new Iraqi leadership transitions into power," said Ambassador L. Paul Bremer, the U.S. Civilian Administrator of Iraq.

In 2003, Wolfe served as Deputy Director -- then Director -- of Economic Policy in Iraq. While there, Wolfe spent six months working towards the introduction of new currency into the Iraqi economy and helped get the banking sector up and running. Wolfe also devoted his expertise to the implementation of new laws for the central and commercial banks and for domestic and foreign investment.

"I have a deep appreciation for the responsibilities entrusted to me by Secretary Snow and Ambassador Bremer. It will be good to get back to Baghdad to work with my Iraqi and CPA colleagues," said Wolfe. "The next few months are critical for Iraq's transition to democracy. Enormous progress has been made, but there's still a lot to do. I am eager to get on the ground and go to work."

Wolfe was appointed Deputy General Counsel of the U.S. Treasury Department in July 2001. As the Deputy General Counsel, he advises senior Treasury officials and oversees the activities of the 1400-lawyer Department Legal Division.

Wolfe, a South Carolina native, graduated from Washington and Lee University, cum laude, in 1973. In 1977, he graduated cum laude from the University of Pennsylvania Law School where he was a member of the Law Review and Order of the Coif.

In July 2004, Wolfe plans to return to Washington, D.C. where he lives with his wife and son. At that time he plans to pursue a career in the private sector.

For a complete bio, please visit: http://www.treasury.gov/organization/bios/wolfe-e.html.

(Distributed by the Bureau of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)