New Chief Economist at World Bank

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Above: the World Bank’s headquarters in Washington

By the Caribbean Journal staff

Kaushik Basu has been appointed the World Bank’s new chief economist and senior vice president, World Bank Group President Jim Young Kim announced Wednesday.

Basu, a native of India, earned a PhD from the London School of Economics. He was formerly the Indian Ministry of Finance’s chief economic advisor.

“Having worked in a Ministry of Finance, in addition to his impressive academic achievements, Kaushik is uniquely suited to help us offer evidence-based solutions and advice to client countries and provide innovative excellence in leading our development research,” Kim said in a statement. “Kaushik brings first-hand experience from a developing country and will be a terrific asset to the institution.”

Basu’s term will begin Oct. 1.

Kim, the former president of Dartmouth College, was named as the World Bank’s newest president in April to succeed Robert Zoellick.