India, Sept. 16 -- The World Bank has announced the appointment of noted economist Michael Kremer for the role of next chief economist. Kremer is a Nobel Laureate winner and currently serves as the Scientific Director of Development Innovation Ventures, from the United States Agency for International Development (USAID).

World Bank's Announcement

Ajay Banga, the president of World Bank announced that the financial organisation has picked Michael Kremer to be its next chief economist. "Michael has spent his career not just identifying what works in development, proving it at scale - and that is exactly the kind of thinking we need", Banga said in the announcement.

"He joins us at a time when the world needs bold solutions to its most ur...