Nigeria has been positioned the 6th most hopeless nation on the planet by a financial expert from John Hopkins University in Baltimore, US, Steve Hanke.
The positioning is titled, Hanke’s Annual Misery Index 2018: The World’s Saddest (And Happiest) Countries.
Writing in the Forbes magazine of March 28, the financial analyst noticed that Misery Index is determined utilizing monetary files, for example, joblessness, expansion and the rates banks charge on credits.
“In the circle of financial aspects, hopelessness will in general stream from high swelling, soak getting expenses and joblessness,” Hanke cautions. The Index takes note of that the high rate of joblessness in Nigeria contributes to a great extent to its unflattering rating on the Misery Index.
Hanke, in his informative note expressed, “The first Misery Index was only a straightforward total of a country’s yearly expansion rate and its joblessness rate. The Index has been changed a few times, first by Robert Barro of Harvard and after that independent from anyone else.
“My adjusted Misery Index is the aggregate of the joblessness, expansion and bank loaning rates, less the rate change in genuine GDP per capita. “Higher readings on the initial three components are ‘terrible’ and make individuals increasingly hopeless. These are counterbalanced by a ‘decent’ (GDP per capita development), which is subtracted from the entirety of the ‘bads.’
“A higher Misery Index score mirrors a more elevated amount of ‘hopelessness,’ and it’s a sufficiently straightforward metric that a bustling president, without time for broad monetary briefings, can comprehend initially.”
Thailand and Hungary rank as the least hopeless nations on the planet on the 2018 Misery Index, having positioned 95th and 94th separately of the 95 nations positioned by Hanke. Venezuela, Argentina, Iran, Brazil and Turkey lead in a specific order, while Nigeria is 6th.