Zimbabwe Named ”Most Miserable Country In The World”, India’s Rank Is…
Zimbabwe has emerged as the most miserable country based on renowned economist Steve Hanke’s Annual Misery Index (HAMI), which mainly rates countries based on economic conditions. The African country has been hit hard by inflation, which hit 243.8 percent last year, surpassing war-torn countries like Ukraine, Syria and Sudan. According to the New York Post, a total of 157 countries were analyzed for the ranking.
“Thanks to high inflation, high unemployment, high lending rates and anemic real GDP growth, Zimbabwe ranks as the world’s most miserable country in Hanke’s 2022 Annual Distress Index. Need I say more?” tweeted Steve Hanke.
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 blamed the country’s ruling political party, ZANU-PF, and its policies for causing “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 worst countries.
Meanwhile, Switzerland has a low HAMI score, meaning its citizens are happier. “One reason for that is the Swiss debt freeze,” said Mr. Hanke wrote that a low debt-to-GDP ratio is the key to a country’s happy success.
The second happiest country is Kuwait, followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo and Malta.
India, on the other hand, ranks 103 on the list, according to the index, where the factor contributing to misery is unemployment.
Ranked 134th in the U.S., unemployment is the leading cause of unhappiness. Finland, ranked the happiest country in the world for six consecutive years by the World Happiness Report, ranks 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 distress index is compiled by Steve Hanke, a professor of applied economics at Johns Hopkins University. The indices are unemployment (multiplied by two), inflation and bank lending rates, minus the annual percentage change in real GDP per capita.