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Steve Hanke’s Annual Misery Index (HAMI) has recently announced Zimbabwe, as the most miserable country.

According to the reports that shocked the world’s business community, Zimbabwe’s disturbing position, which puts them ahead of war-torn countries like Ukraine, Syria, and Sudan, has highlighted the disastrous circumstances facing the country.

Hanke directly blames the epidemic of hyperinflation for Zimbabwe’s depressing situation. This is not the first time the country has encountered this problem as in 2021, the same fundamental problem caused it to hold the fifth position on the HAMI.

Currently, Zimbabwe is dealing with a shocking 243% inflation rate and an alarming 20% unemployment rate. Hanke’s predictions portray a dire image of the economy with an anticipated GDP growth of just 0.9%, which stands in a complete contrast to the hopeful prediction of 6% made by Finance Minister Mthuli Ncube.

Hanke draws attention to the political scene by highlighting Zanu PF’s tyranny, which he likens to a political mafia rather than a traditional political party. Since Robert Mugabe took office in 1980 and was succeeded by Emmerson Mnangagwa, Zanu PF has exerted tight control over Zimbabwean politics. Hanke claims that the country’s extreme suffering is mostly a result of the party’s policies.

Since the Mugabe era, Zimbabwe has had chronic inflation. During two episodes of hyperinflation, the country’s inflation rate exceeded a startling 50% per month for extended periods of time. The country faced major difficulties even the year before, with annual inflation hitting a startling 243.8% and lending rates surging to 131.8%.

Hanke’s Misery Index additionally ranks other countries going through comparable difficulties. The list of the 15 most miserable nations includes Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana; Switzerland is listed as the least miserable nation.

Hanke emphasises the shortcomings of the current government, but he also offers a glimpse of optimism by projecting Nelson Chamisa, the leader of the Citizens Coalition for Change (CCC), as a possible winner of the impending general elections in Zimbabwe, which are set to take place in August. Hanke contends that Chamisa and his party might save Zimbabwe from its current problems if free and fair elections were held.

As it is, all eyes are now focused on the forthcoming elections, which carry the prospect of maybe signalling a turning point, as Zimbabwe struggles to live up to its unpleasant reputation of the most miserable country. Zimbabweans’ decision will be closely monitored by the country and the global community in the hopes that it will pave the way for prosperity and a better future.