India's Indermit Gill appointed Chief Economist of World Bank

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The World Bank has appointed Indian citizen Indermit Gill as its Chief Economist and Senior Vice President of Development Economics.

Important facts

• Gill will replace American economist Carmen Reinhart and his appointment will be effective from September 1, 2022.

• Gill is currently Vice President of Equitable Development, Finance and Institutions, where he led work on macroeconomics, credit, trade, poverty and governance.

• Gill will be the second Indian to serve as the Chief Economist at the World Bank. Kaushik Basu was the first Indian to hold the position from 2012-2016.

• Raghuram Rajan and Gita Gopinath have served as chief economists at the International Monetary Fund, a subsidiary of the World Bank.

• Between 2016 and 2021, Gill was Professor of Public Policy at Duke University and a 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.

• Gill holds a PhD in Economics from the University of Chicago.

• Gill holds an MA from Delhi School of Economics and a BA (Hons) in Economics from St Stephen's College, University of Delhi.

About World Bank

• The International Bank for Reconstruction and Development and the International Monetary Fund were established together in 1944 during the Bretton Woods Conference in New Hampshire, USA.

• The International Bank for Reconstruction and Development is also called the World Bank.

• At present, 189 countries are members of the World Bank.

• Its headquarter is in Washington DC, the capital of America.

• The World Bank Group is a group of the following five international organisations that provide economic-financial assistance and financial advice to member countries-

• International Bank for Reconstruction and Development

• International Finance Corporation

• international development association

• International Centre for Settlement of Investment Disputes

• Multilateral Investment Guarantee Agency

• President- David Malpass 

• CEO- Anshula Kant