The World Bank has appointed Nobel Prize-winning economist Michael Kremer as its next chief economist, bringing one of the world's leading development economists into the role as emerging economies contend with higher borrowing and energy costs and declining development assistance.
Kremer, 61, will take charge on October 1, succeeding Indermit Gill, who retired last month. His appointment comes shortly before the annual meetings of the World Bank and International Monetary Fund in Bangkok, Thailand.
