SUBRAMANIAN AMONG PROBABLES FOR WORLD BANK CHIEF ECONOMIST
Chief Economic Advisor Arvind Subramanian is among the probables for the next chief economist of the World Bank, Business Standard has learnt. This step is with the backing of the finance ministry. A senior official from the North Block has sent a letter of recommendation to the World Bank on Subramanian’s behalf.
Chief Economic Advisor (CEA) Arvind Subramanian ( pictured) is in contention to be the next chief economist of World Bank, Business Standard has learnt. This is with the backing of the finance ministry; a very senior official from there has sent a letter of recommendation to the bank.
If appointed, Subramanian will be the second Indian chief economist of the Washington-headquartered global institution. Former CEA Kaushik Basu had that job in 2012-2016. The CEA is expected to meet the World Bank’s brass in Washington DC at the International Monetary Fund (IMF) and World Bank’s annual spring meeting in late April. An announcement is expected only after that.
Business Standard reached out to Subramanian and the World Bank for their comments. The CEA has not responded.
“The search for Chief Economist has just commenced. We will not engage in speculation and will only make an announcement when the Chief Economist has been selected,” said David Theis, the World Bank’s press secretary, in an emailed reply.
The position has been vacant since January, when American economist Paul Romer left the post after 15 months. According to a report in London’s The Financial Times newspaper, the “outspoken” Romer had been in a battle with staff economists at the bank almost since his arrival in October 2016.
“Areas of dispute have included everything from Mr Romer’s diktats on grammar and brevity in reports to serious questions about methodology,” the paper said in a report earlier this year. Adding some at the bank were upset by what they saw as his abrasive nature.
Subramanian was appointed CEA in October 2014 and got a year’s extension in September 2017. His economic surveys have stood out for starting debate and discussion on a number of issues.