Hanke's Annual Misery Index: Lebanon's inflation woes push it to fourth place

After it was ranked, along with Afghanistan, as the two unhappiest countries, according to the annual World Happiness Report, Lebanon was classified fourth in Hanke's Annual Misery Index (HAMI). 

 

As many countries, including Lebanon, are facing high inflation and unemployment rates and "steep borrowing costs," the Hanke's Annual Misery Index (HAMI) sums up the year-end unemployment (multiplied by two), inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.   

"Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana comprise the 15 most miserable countries in the world," according to the index.  

This year's HAMI includes 157 countries, with Zimbabwe ranking first, with 414.7 on Misery Index, Venezuela second (330.8 on Misery Index), Syria third (225.4 on Misery Index), and Lebanon fourth, scoring 190.337 on the Misery Index, and with inflation being the major contributing factor.  

In contrast, and based on calculations by Professor Steve H. Hanke (The Johns Hopkins University), Japan, Ireland, Kuwait, and Switzerland, ranked 154th, 155th, 156th, and 157th, respectively, as Switzerland has the lowest HAMI score in the world.