WHAT IS THE POOREST COUNTRY OF THE WORLD ?

[SamuelRSmith]

mjk45 said:

SamuelRSmith said:

mjk45 said:

Zimbabwe was ranked the world poorest country in 2010 by the International Monetry Fund  due to it's extreme hyper inflation rate of 87.9 sextillion with inflation doubling  every 1.1 days .

Its GDP is $0.1

the next poorest country is The democtratic Republic Of the Congo (not to be confused with the Republic of Congo)

GDP $334

Note: it is GDP Gross Domestic Product that is used to denote how rich or poor a country is rated.

Of course, by this point, GDP becomes a totally irrelavent means of measuring Zimbabwe's economy, as they would have found a substitute, such as bartering, to their currency. The standards of living will be low in Zimbabwe, no doubt, but not as low as this measure suggests.

Yes but this is about poorest countries and  GDP is the measuring stick used  so in relation to other countries it is as bad as it looks and that is why people there barter because the economy as collapsed .

Yes, I know that Zimbabwe probably is one of the poorest in the world, if not THE (I dunno how it's going between Somalia, Afghanistan and Haiti)... just pointing out one of the many, many flaws of the GDP measure.