Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children
The Ministry of Health in Gaza: Gaza's hospitals recorded six deaths due to starvation and malnutrition in the past 24 hours, all of them adults

Lebanon, Argentina, Zimbabwe countries with highest inflation in Feb

  • By Al Mayadeen English
  • Source: Agencies
  • 9 Apr 2023 16:02
4 Min Read

The Lebanese, Zimbabwean, and Argentine economies performed the worst in February in light of an ongoing economic crisis that saw no country in the world deflate.

  • x
  • People protest poverty and demand more government social programs as they block Puente Pueyrredon, a main entry point into Buenos Aires, Argentina, April 5, 2023 (AP)
    People protest poverty and demand more government social programs as they block Puente Pueyrredon, a main entry point into Buenos Aires, Argentina, April 5, 2023. (AP)

Lebanon, Argentina, and Zimbabwe were the countries with the highest annual inflation rates in February 2023, according to calculations made by Russian news agency Sputnik and based on data from national statistics. 

Inflation in Lebanon was at a whopping 190% in February, putting it in first place by far, while Argentina ranked second with an annual inflation rate of 102.5%. The country with the highest inflation rate in January, Zimbabwe, saw its inflation cooling down to 92.3% after it was at 230%.

Joanna Wronecka, the UN’s Special Coordinator for Lebanon, warned in a tweet that the Lebanese people are severely harmed by currency depreciation and inflation three years after Lebanon declared its first ever-sovereign default.

She also noted that the "Lebanese are still waiting for their leaders to act to rescue the country."

Wronecka further argued that reforms agreed upon with the IMF are "crucial and inevitable."

Most of Lebanon's population is now living in poverty as a result of the country's financial crisis, and the political class, which is frequently held responsible, has done nothing to address the situation.

China ranks lowest at 1%

Sudan and Suriname completed the top five list with their inflation rates being at 63.3% and 58%, respectively.

Related News

Turkey, Egypt discuss Gaza aid, ceasefire talks: Reports

Report questions Turkey’s role in future European defense plans

Inflation hit Europe pretty hard, as well, as Moldova ranked highest with 25.9%, followed by Hungary at 25.4% and Ukraine at 24.9% as Switzerland and Lichtenstein had the lowest inflation rates on the continent, at 3.4%.

In the Middle East, Lebanon, Turkey, and Egypt had the worst inflation rates, with the latter two's inflation rates being 55.2% and 31.9%, respectively. Oman had the lowest inflation rate, with 1.9%.

Asia's worst-ranking countries were Sri Lanka, 53.6%, Laos, 41.4%, and Pakistan, 31.5%. China ranked lowest with a mere 1% inflation rate.

Sri Lanka defaulted on its $46 billion foreign debt in April 2022 and was negotiating a bailout deal with the IMF to repair its shattered finances. The country witnessed months of lack of food, fuel, and medicine, extended power cuts, and inflation - which in turn has caused civil unrest and public outrage.

Months of protests during the height of the crisis pushed then-President Gotabaya Rajapaksa to depart the country and resign in July 2022 following accusations of economic mismanagement and corruption.

No deflation anywhere in the world

Moreover, it is the same in Pakistan. The Pakistani economy has been exacerbated by political instability, the global energy crisis, earthquakes, and the devastating floods that submerged large portions of the country in 2022.

As a result, the country requires billions of dollars of financing to service existing debt. It is also worth noting that foreign exchange reserves have also dwindled and the value of the rupee diminished.

The country in South Asia, which is home to more than 220 million people, must implement stringent tax changes and raise energy costs if it wants to receive the following tranche of a $6.5 billion IMF loan and avoid defaulting.

There was no deflation anywhere in the world, with half the world recording inflation rates above 8.7% in February.

Sputnik reported that it conducted the calculations on the basis of data from the national statistical agencies of all the 193 United Nations member states.

  • Turkey
  • Egypt
  • Pakistan
  • Sri Lanka
  • Argentina
  • Lebanon

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS