Just Earth News | @justearthnews | 24 May 2023, 06:39 am Print
Zimbabwe Image credit: Wallpaper Cave
Harare: Zimbabwe has been named the world's most miserable nation by economist Steve Hanke in the Annual Misery Index (HAMI).
" My version of the misery index is the sum of the year-end unemployment (multiplied by two), inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita. Higher readings on the first three elements are 'bad' and make people more miserable. These 'bads' are offset by a 'good' (real GDP per capita growth), which is subtracted from the sum of the bads to yield a HAMI score," Steve Hanke said in a post he wrote in the Independent Institute's website.
He has adjudged 'inflation' as the reason behind Zimbabwe's current condition.
The economist 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?"
In the ranking list, 157 nations have been analysed.
The top 15 miserable nations as per the list are:
Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana
Where is India on the list?
India ranked 103 in the list where unemployment has been mentioned as one of the major factors affecting Indian society.
As per the list, the least miserable nation in the world is Switzerland.
The USA ranks 134 in the list.
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