World Bank Appoints Indian national Indermit Gill As Its Chief Economist

The World Bank has appointed Indian national Indermit Gill as Chief Economist as well as Senior Vice-President to oversee Development Economics. Mr. Gill succeeds American economics expert Carmen Reinhart in the role and will take over the position effective on September 1, 2022. Mr. Gill is the Vice President of Equitable growth, finance and Institutions. He was in charge of the work on macroeconomics and trade, as well as debt, governance, and poverty.

When announcing his appointment, World Bank President David Malpass declared, "Gill brings to this position a mix of leadership skills, extensive knowledge and real-world expertise working with governments of different countries in the areas of macroeconomic imbalances, growth institutions, poverty conflicts, as well as climate change. Indermit is well-known for his contributions to the field of development economics Indermit said he was a respected expert in development economics.

Mr. Gill is the second Indian to hold the position of the chief economist of the international institution, following Kaushik Basu, who served as Chief Economist at the World Bank from 2012 to the year 2016.

The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund in1944.