World Bank names Nobel laureate Michael Kremer as next chief economist
- On Wednesday, the World Bank named Nobel laureate Michael Kremer as its next chief economist, succeeding Indermit Gill, who retired last month. Kremer becomes the first economist to join the institution with a Nobel Prize in hand.
- Kremer, a University of Chicago professor, won the 2019 Nobel Prize in Economic Sciences jointly with Esther Duflo and Abhijit Banerjee for their experimental approach to alleviating global poverty.
- His research prompted governments in Africa and South Asia to provide 2 billion de-worming treatments since 2014. He also pioneered Advance Market Commitments, binding contracts encouraging pharmaceutical companies to develop drugs for low-income countries.
- World Bank President Ajay Banga said Kremer joins at a time when "the world needs bold solutions" to development challenges, citing a 23% drop in official development assistance and the need to create jobs for more than 1.2 billion young people.
- Kremer assumes his new position on October 1, ahead of global financial meetings in Bangkok, Thailand, as developing nations grapple with rising interest rates and higher energy prices.
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The World Bank Group announced on Wednesday the appointment of Michael Kremer, a 2019 Nobel Prize in Economics and reputed researcher focused on alleviating poverty, as its new Chief Economist and Senior Vice President of Development Economics, positions that will begin to take place as of October 1. “Kremer is recognized not only ... Continue reading “Economy Nobel Michael Kremer is appointed Chief Economist of the World Bank”
The Nobel Laureate, Michael Kramer, has been appointed Chief Economist and Senior Vice-President of the Development Economy of the World Bank since 1 October. He will succeed Gila Indermit, passing on TASS. "I am pleased to welcome Michael to the World Bank Group. He will join us at a time when the world needs bold solutions to the most pressing development challenges, including the creation of jobs that meet the aspirations of the more than 1.2…
The new head of the group of financial institutions succeeds Indermit Gill, also acting as Senior Vice-President for the Development Economy of the World Bank Group.
The American Michael Kramer, Nobel Prize-winning Economician, was appointed chief economist of the World Bank.
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Nobel Prize winner Michael Kremer has been appointed Chief Economist of the World Bank Group and Vice President for Development Economics, which means that from October 1, one of today's most prominent economists will manage research and analytical work in that international financial institution, the World Bank announced today.
On the basis of his research, programs were created that support small farmers and gave millions of people access to vaccines.
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