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India’s Kaushik Basu appointed as World Bank Chief Economist

in International Business

India’s Kaushik Basu appointed as World Bank Chief Economist

Former economic adviser to the Indian government, Kaushik Basu is named the chief economist of the World Bank.

Mr. Basu holds a doctorate from the London School of Economics and founded the Center for Development Economics at the Delhi School of Economics in 1992.

His position as Indian government’s chief economic adviser is replaced by Raghuram Rajan, former chief economist of International Monetary Fund.

Mr. Basu replaces Justin Lin of China and begins his term on the first of October.

Mr Basu “brings first-hand experience from a developing country and will be a terrific asset to the institution,” the Bank said in a release.

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