Zimbabwe has emerged as the most miserable country on renowned economist Steve Hanke’s Annual Misery Index (HAMI), which judges nations on mainly economic conditions. The African country that has surpassed war-torn nations like Ukraine, Syria, and Sudan, has majorly been plagued with skyrocketing inflation, which touched 243.8 percent last year. A total of 157 countries were analysed for the rankings, as per New York Post.
”Thanks to stunning inflation, high unemployment, high lending rates, and anemic real GDP growth, Zimbabwe clocks in as the WORLD’S MOST MISERABLE COUNTRY in the Hanke 2022 Annual Misery Index. Need I say more?” Steve Hanke tweeted.
Thanks to stunning inflation, high unemployment, high lending rates, and anemic real GDP growth, Zimbabwe clocks in as the WORLD’S MOST MISERABLE COUNTRY in the Hanke 2022 Annual Misery Index. Need I say more? pic.twitter.com/0uhfnWQUyW
— Steve Hanke (@steve_hanke) May 21, 2023
Mr. Hanke also blamed the country’s reigning political party ZANU-PF and its policies for inflicting “massive misery.”
Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana are the other countries in the top 15 list of most miserable nations.
Meanwhile, Switzerland had the lowest HAMI score, meaning its citizens are the happiest. ”One reason for that is the Swiss debt brake,” Mr. Hanke wrote, crediting the low debt-to-GDP ratio for the nation’s joyous success.
The second-happiest country was Kuwait, followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.
India, on the other hand, ranked 103 on the list, with the contributing factor to the misery being unemployment, according to the index.
The US ranked 134th on the list, with unemployment as the leading culprit of unhappiness. Finland, which has been ranked the world’s happiest country for six years in a row by the World Happiness Report, was ranked 109th on the misery index.
Over $74bn in American taxpayer money has been dumped into the USA’s proxy war in Ukraine. With an unemployment rate of ~20%, Ukraine is now the 8th most miserable country IN THE WORLD according to the Hanke 2022 Annual Misery Index. Yet another great American “success” story. pic.twitter.com/N0yhiOyZgo
— Steve Hanke (@steve_hanke) May 23, 2023
Notably, The Annual Misery Index is compiled by Steve Hanke, professor of Applied Economics at John Hopkins University. The indexes are the sum of unemployment (multiplied by two), inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.