World Bank appoints Indian national as Chief Economist Development Economics

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Ziraat Times
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The World Bank has appointed Indermit Gill—an Indian national—as its chief economist and senior vice president for development economics of the multilateral development bank.

“Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change,” World Bank President David Malpass said in a statement.

His appointment will be effective from September 1, 2022.

After Kaushik Basu, Gill will be the second Indian to serve as chief economist at the World Bank. Raghuram Rajan and Gita Gopinath have served as the chief economists at the International Monetary Fund, the sister organisation of the World Bank.

In a Twitter post, Gill said Carmen Reinhart, the preceding chief economist at the Bank has left big shoes to fill. “I’m honored by the opportunity to follow in her footsteps,” he tweeted.

Gill is widely respected for his intellectual contributions to development economics. Gill spearheaded the influential 2009 World Development Report on Economic Geography. His pioneering work includes introducing the concept of the “middle income trap” to describe how developing countries stagnate after reaching a certain level of income. He has published extensively on policy issues facing developing countries, sovereign debt, green growth, labor markets, poverty and inequality, and managing natural resource wealth.

Currently Vice President for Equitable Growth, Finance, and Institutions in the Bank, Gill leads work on macroeconomics, debt, trade, poverty, and governance. Between 2016 and 2021, he was a professor of public policy at Duke University and non-resident senior fellow in the Global Economy and Development program at the Brookings Institution.

Gill has also taught at Georgetown University and the University of Chicago. A student of Nobel Laureates Gary Becker and Robert E. Lucas Jr., Gill holds a Ph.D. in economics from the University of Chicago. He also holds an M.A. from the Delhi School of Economics, and a B.A. (with honors) in economics from St. Stephen’s College, University of Delhi.

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