World Bank appoints 61-year-old Nobel Prize winner as chief economist

The World Bank has appointed 61-year-old Michael Klemer, a Nobel laureate, as chief economist. He will take office from October 1. This was reported by the press service of the organization.

One of the main duties of the American economist in this post will be the creation of jobs - about 1.2 billion. According to Klemer, he also intends to work on improving health and education for people.

Michael Kramer earned a PhD in economics from Harvard University and is currently listed as a fellow at the University of Chicago.

In 2004, he conducted a study in Kenya in which he proved that mass distribution of inexpensive worm pills is one of the most effective and cost-effective ways to combat poverty and absenteeism in schools. After this experiment, government programs were launched, including in India, under which children were provided with treatment. It was this cycle of research that earned Michael Klemer the 2019 Nobel Prize in Economics. The award was given to him “for his experimental approach to combating global poverty.”.