MONETABRIEF - Michael Kremer, a Nobel prize winner has been appointed Chief Economist of the World Bank Group, the multilateral lender said.
Kremer is known tackling real-world problems through innovative solutions grounded in rigorous research and for translating his findings into programs that reached hundreds of millions of people, involving vaccine access school health programs and smallholder farmers.
"He joins us at a time when the world needs bold solutions to its most urgent development challenges, including creating jobs that meet the aspirations of more than 1.2 billion young people reaching working age in the coming decade," Ajay Banga, President of the World Bank Group said in a statement.
"Michael has spent his career not just identifying what works in development, but proving it at scale—and that is exactly the kind of thinking we need."
Kremer has a PhD in Economics from Harvard University, and currently serves as Director of the Development Innovation Lab at the University of Chicago, where he is a Professor.
Kremer is joining the world at time when millions have been impoverished by monetary inflation.
Government finances have been shattered by stimulus, to levels worse than the Great Inflation period from full-employment policies promoted by macro-economists at the time. (Colombo/Sept16/2026)