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Annual Misery Index – India Ranks 103 Out Of 157 Nations: SSB Interview Topic

The Hanke’s Annual Misery Index (HAMI) 2022 list of the world’s happiest countries is now available. According to the report, Zimbabwe is the world’s most wretched country. The measure was created after analysing 157 nations. According to economist Steve Hanke, the misery index is the sum of year-end unemployment, inflation, and bank lending rates, less the yearly percentage change in real GDP per capita.

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Why In The News?

  • Zimbabwe Has Been Ranked ‘Most Miserable Country’ In The Hanke’s Annual Misery Index (HAMI) 2022. Economist Steve Hanke Gave Rankings To 157 Countries By Considering Factors Of Unemployment, Inflation, Bank-lending Rates, And GDP Change.

Who Is Steve Hanke?

  • A Professor Of Applied Economics At The Johns Hopkins University Hanke Is Known For His Work As A Currency Reformer In Emerging Market Countries. He Was A Senior Economist With President Ronald Reagan’s Council Of Economic Advisers From 1981 To 1982.
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How Are The Rankings Given?

  • Economist Steve Hanke’s Index Provided Rankings For A Total Of 157 Countries. The Index Is The Sum Of The Year-end Unemployment, Inflation, And Bank-lending Rates, Minus The Annual Percentage Change In Real GDP Per Capita.
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Hanke’s Annual Misery Index (HAMI) 2022:

  • Zimbabwe Has Been Ranked ‘Most Miserable Country’ In The Hanke’s Annual Misery Index (HAMI) 2022. Attributed To The Policies Implemented By President Emmerson Mnangagwa, Representing The ZANU-PF Party. Zimbabwe Experienced An Inflation Rate Of 243.8% In The Previous Year.
  • Among The Countries Ranked, Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, And Ghana Emerged As The 15 Most Miserable Countries Worldwide.
  • India Is Placed At The 103rd Spot, With Unemployment Identified As The Primary Contributing Factor To The Country’s Relative Level Of Misery. Among The 157 Countries Analysed, Switzerland Emerged As The Least Miserable, Occupying The Top Position (157) On The List.
  • Grappling With Economic And Political Challenges, Pakistan Secured The 35th Position On The List Of The World’s Most Miserable Countries. Inflation Was Identified As The Primary Contributing Factor To Pakistan’s Placement In The Index.
  • Finland, Constantly Ranked As The World’s Happiest Country For Six Consecutive Years According To The World Happiness Report, Secured The 109th Position On The Misery Index. The United States Fared Relatively Well On The Misery Index, Ranking Among The Least Miserable Countries At 134.
  • Other Countries With The Least Misery Levels Include Kuwait (156), Ireland (155), Japan (154), Malaysia (153), Taiwan (152), Niger (151), Thailand (150), Togo (149), And Malta (148).
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