Indermit Gill named as World Bank�s Chief Economist

Highlights:

The international financial institution, World Bank has appointed Indermit Gill, as its chief economist and senior vice-president for development economics at the multilateral development bank.
His appointment will be effective September 1, 2022.
Gill, currently vice-president for equitable growth, finance, and institutions at the Bank, leads the work on macroeconomics, debt, trade, poverty, and governance.
Indermit Gill is the second Indian to take up the coveted role of Chief Economist at World Bank after Kaushik Basu.
Basu served from 2012-2016. Other prominent Indian-origin economists Raghuram Rajan and Gita Gopinath have served as chief economists at the International Monetary Fund, the sister-organisation of the World Bank.
Gill brings with him two decades of operational working experience at the World Bank.
In his previous stint from 1993 to 2016, he had held several leadership positions including Director for Development Policy in the Office of the World Bank Chief Economist, and Regional Chief Economist for Europe and Central Asia.

Brief History:

A student of Nobel Laureates Gary Becker and Robert Lucas, Gill holds a PhD in Economics from the University of Chicago, along with an MA from the Delhi School of Economics.
He was a professor at Georgetown University and the University of Chicago and also served as a non-resident Senior Fellow in the Global Economy and Development program at the Brookings Institution.
Gill is also regarded for his pioneering work in developing the concept of �Middle income trap� to describe how countries struggle to achieve higher income status after hitting certain income levels.