Zimbabwe ranked as the Most Miserable Country, India and Pakistan in the Hanke’s Annual Misery Index list too

Zimbabwe has claimed the top position on Hanke’s Annual Misery Index (HAMI), earning the title of the world’s most distressed nation. This index primarily evaluates countries based on their economic circumstances, and Zimbabwe has surpassed war-ravaged nations such as Ukraine, Syria, and Sudan.

Last year, Zimbabwe experienced a severe problem of rapidly increasing inflation, reaching a staggering rate of 243.8 percent. The citizens of the country have been greatly affected by the policies implemented by President Emmerson Mnangagwa and his ZANU-PF party, leading to widespread suffering and distress.

In a tweet, Steve Hanke highlighted the profound impact of inflation, along with high unemployment, elevated lending rates, and weak real GDP growth, on Zimbabwe’s economy. As a result, Zimbabwe has earned the unfortunate title of being the most miserable country in the world, according to the Hanke 2022 Annual Misery Index. These distressing conditions leave little room for doubt about the dire situation in the country.

The 2022 ranking of Hanke’s Annual Misery Index was determined by economist Steve Hanke, who considered various factors such as unemployment, inflation, bank lending rates, and the percentage change in GDP.

According to the New York Post, a comprehensive analysis was conducted on 157 countries to determine their rankings. The top 15 list of the most miserable nations includes Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana.

Switzerland was recognized as the country with the least misery, ranking 157th globally. Kuwait claimed the second-happiest spot, closely followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo, and Malta.

Despite Finland’s continuous reign as the world’s happiest country according to the World Happiness Report for six consecutive years, it ranked 109th on the misery index. The United States of America also fared well, being one of the countries with the least misery and securing the 134th position.

What is the Condition of India?

According to the International Monetary Fund, there is a projected deceleration in global growth from 3.4 percent to 2.9 percent in 2023. The World Bank states that even advanced economies will experience a growth rate of only 0.5 percent in 2023, compared to 2.5 percent in 2022, due to the effects of the recession.

However, the impact of geopolitical tensions has been particularly severe for economically disadvantaged nations, which were already grappling with issues like inflation and unemployment. Economist Steve Hanke has compiled a list of the most afflicted countries, highlighting the significant challenges they face.

India is included in a list of 157 countries, occupying the 103rd position, and its primary source of suffering is the absence of job opportunities.

In April 2023, India witnessed another rise in its unemployment rate, reaching 8.11 percent, in contrast to 7.8 percent in March.

In contrast, Pakistan, India’s neighboring country, faced numerous challenges such as soaring food prices, depletion of foreign exchange reserves, floods, and political instability. As a result, it was ranked 35th on the misery index.

Despite facing various obstacles, inflation played a significant role in exacerbating Pakistan’s distressing condition.