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According to the annual “misery index” compiled by Steve Hanke, a professor of Applied Economics at John Hopkins University, Zimbabwe has been named the most miserable country in the world.
The index takes into account mainly economic conditions, including unemployment, inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.
Zimbabwe beat out war-torn Ukraine, Venezuela, and Syria for the top spot due to soaring inflation.
Hanke has been monitoring Zimbabwe for over 20 years and has predicted economic growth of only 0.9%, in contrast to the 6% predicted by Zimbabwe’s finance minister.
The country has suffered from endemic inflation since the Mugabe era, including two episodes of hyperinflation.
On the streets of central Harare, the unofficial rate of exchange for US$1 was Z3500, and informal money changers swarm around shopping areas and banks.
War-torn Sudan also made the list, while Switzerland was named the least miserable nation in the world.
The 20 most miserable countries in the world
- Zimbabwe
- Venezuela
- Syria
- Lebanon
- Sudan
- Argentina
- Yemen
- Ukraine
- Cuba
- Turkey
- Sri Lanka
- Haiti
- Angola
- Tonga
- Ghana
- South Africa
- Suriname
- Bosnia and Herzegovina
- Iran
- Rwanda
