Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore has rated Zimbabwe as the most miserable country in the world.
According to Hanke’s misery index released this past week, Zimbabwe is at the top as the most miserable country in the world due to inflation.Zimbabwe is facing an acute economic crisis coupled with the highest inflation in the world recorded by Hanke as 666%.
Accordingly, the prominent professor’s latest survey established that President Emmerson Mnangagwa’s regime which he said has an “iron grip on Zimbabwean politics” is behind the economic downfall facing Zimbabwe.
He said the ruling Zanu-PF party operates “a political mafia than a political party” leading Zimbabwe to be the “most miserable country in the world”.“Zimbabwe takes this year’s prize as the most miserable country in the world. Since the reign of Robert Mugabe, which began in 1980, and then his successor, Emmerson Mnangagwa, the political party Zanu-PF has had an iron grip on Zimbabwean politics.
“Indeed, Zanu-PF operates more like a political mafia than a political party. Its policies have resulted in massive misery,” Hanke said.
“For example, Zimbabwe has suffered endemic inflation since the Mugabe era, including two episodes of hyperinflation, in which the inflation rate (a component of the HAMI), exceeded 50 percent per month for 30 or more days.“Last year didn’t deliver much better, with annual inflation at 243.8 percent, and lending rates following suit at 131.8 percent.”
With the Zimbabwean election set to be held later this year, Hanke endorsed opposition Citizens Coalition for Change (CCC) leader Nelson Chamisa as the only person who can save Zimbabwe from the economic crisis.
“With elections around the corner, Nelson Chamisa and his Citizens Coalition for Change is polling well, and, on the assumption that there will be fair and free elections in Zimbabwe, he just might pull Zimbabwe out of the gutter,” he said.
Source: nehandaradio
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