Zimbabwe has been named the most miserable country in the world, according to renowned economist Steve Hanke’s Annual Misery Index (HAMI), which ranks countries based primarily on economic conditions.
The African country, which has surpassed war-torn countries such as Ukraine, Syria, and Sudan, has been plagued by skyrocketing inflation, which reached 243.8 percent last year. According to the New York Post, 157 countries were studied for the rankings.
”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.
Kuwait came in second place, followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.
According to the index, India ranked 103 on the list, with unemployment being a contributing factor to the misery.
The United States ranked 134th on the list, with unemployment being the leading cause of unhappiness. Finland, which has been named the World Happiness Report’s happiest country for six years in a row, 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, a John Hopkins University professor of Applied Economics. The indexes are calculated by adding unemployment (multiplied by two), inflation, and bank lending rates, then subtracting the annual percentage change in real GDP per capita.
Also read: All you need to know about Great ruins of Zimbabwe
Zimbabwe is a landlocked country in Southern Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa to the south, Botswana to the southwest, Zambia to the north, and Mozambique to the east. The capital and largest city is Harare, and the second largest is Bulawayo. In a country of roughly 15 million people, Zimbabwe’s largest and dominant ethnic group are the Shona, who make up 82% of the population, followed by the Northern Ndebele and other smaller minorities.
