Hanke’s Misery Index ranks Zimbabwe as the most miserable nation

NEW DELHI: The Steve Hanke’s Annual Misery Index (HAMI) has ranked Zimbabwe as the ‘Most Miserable Country in the World’ out of 157 countries. This annual misery Index is compiled by Steve Hanke, a professor of Applied Economics at John Hopkins University, United States, which judges nations on economic conditions. The index is the sum of unemployment (multiplied by two), inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.

Zimbabwe surpassed nations like Ukraine, Syria, and Sudan as it was plagued with 243.8 per cent inflation last year. “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?” Hanke tweeted.

He further blamed the Zimbabwe African National Union–Patriotic Front (ZANU–PF), the country’s reigning political party for inflicting “massive misery.”

Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana are the other top 15 nations ranked as the most miserable nations.

On the other hand, Switzerland has the lowest HAMI score, crediting the low debt-to-GDP ratio to the nation’s happiness. Switzerland is followed by Kuwait, Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.

Meanwhile, India and the United States ranked 103 and 134 on the list, due to their high unemployment rate. Finland, which has been positioned for six years consecutively at the top for being the world’s happiest country by the World Happiness Report, ranked 109 on the misery report.