The World Bank Group announced on 16 September 2026 the appointment of Michael Kremer as Chief Economist and Senior Vice President for Development Economics. The appointment takes effect on 1 October 2026, and Kremer succeeds Indermit Gill, who retired from the post last month.
World Bank Chief Economist
The Chief Economist of the World Bank Group leads the institution’s research, data, and analytical agenda. The post is linked to the Development Economics Vice Presidency, which produces policy research on poverty, growth, trade, education, health, and public finance.
Michael Kremer
Michael Kremer is 61 years old and is a Nobel laureate in economics. He was jointly awarded the 2019 Nobel Prize in Economic Sciences with Abhijit Banerjee and Esther Duflo for the experimental approach to alleviating global poverty.
Academic and research background
Before this appointment, Kremer served as Director of the Development Innovation Lab and as a University Professor at the University of Chicago. His research covers education, health, water, finance, and agriculture in developing countries.
Important Facts for Exams
- The World Bank Group is a multilateral development institution headquartered in Washington, D.C.
- The Nobel Prize in Economic Sciences was first awarded in 1969.
- Abhijit Banerjee and Esther Duflo are economists associated with experimental development economics.
- The Development Economics Vice Presidency is a key research unit within the World Bank Group.
Exam-relevant context
The World Bank Group includes institutions such as the International Bank for Reconstruction and Development and the International Development Association. The Chief Economist position is one of the senior leadership posts in the organisation.
