Nobel Laureate Michael Kremer to Lead World Bank as Chief Economist

Michael Kremer, 61, has been appointed the World Bank’s next chief economist, succeeding the current office holder. The 2019 Nobel Prize in Economic Sciences, shared with Esther Duflo and Abhijit Banerjee, recognized Kremer’s pioneering experimental approach to reducing global poverty. In his new role, Kremer will oversee the Bank’s research agenda, policy analysis, and economic forecasting. His appointment follows a series of reforms aimed at strengthening evidence‑based decision making within the institution. Kremer’s track record of randomized controlled trials in development economics suggests a continued emphasis on rigorous evaluation of World Bank projects and a potential shift toward more targeted, data‑driven interventions. The transition is expected to influence the Bank’s lending priorities, program design, and partnership strategies over the coming years.