BlockBeats News, February 23 — According to the Financial Times of the UK, bankers and politicians in Lebanon are considering selling or leasing part of the central bank’s massive gold reserves as a way to save the country’s economy. The value of these gold reserves has soared along with gold prices.
Lebanon’s central bank holds over 280 tons of gold, second only to Saudi Arabia in the Middle East. For a small country, this is quite rare. The bank began accumulating gold reserves in the 1940s and 1950s to support the value of the Lebanese currency. Since 2019, Lebanon has been plagued by an economic collapse, but parties have failed to reach a consensus on a solution.
However, selling the country’s accumulated gold reserves has faced strong opposition from the public, who see it as a temporary measure benefiting a few at the expense of the majority.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
