World Bank Chief Economist Paul Romer Resigns

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World Bank Chief Economist Paul Romer Resigns

Josh Zumbrum writing for the Wall Street Journal has reported the resignation of World Bank Chief Economist Paul Romer. He resigned yesterday exactly 2 weeks after he apologized to Chile on how the nation was treated in the recent World Bank reports on Ease of Doing Business.

Jim Yong Kim announced the departure in a memo which was posted on World Bank website.

The World Bank reports on Ease of Doing Business had hurt Chile for numerous years after the methodology was tampered with by the World Bank staff. If it were not for these changes Chile would drop in ranking by 2 positions but instead it dropped by 23 places. Romer published data to that effect on his blog.

In another post, Romer withdrew those allegations:

“Seen any sign of manipulation” and “I’m sorry that in my attempt at promoting clarity, I myself was not clear,” wrote Romer.

Previously Mr. Romer had conflicts with other economists at World Bank which sometimes ended up in the public domain. He accused fellow economists of vague writing.

His comments on Chile created a lot of complaints even prom the President of Chile. The World Bank President Mr. Kim has officially announced the start of the search for World Bank’s new Chief Economist.

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Editor-in-Chief

Geoffrey Kerosi is a prolific Kenyan writer based in Nairobi City. Email: info@kerosi.com. Skype: gkerosi Whatsapp: +254713 639 776 YouTube: Kerosi TV

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