BlockBeats report: On February 23, according to the Financial Times, Lebanese bankers and politicians are considering selling or leasing part of the central bank’s substantial gold reserves as a means to rescue the national economy. The value of these gold reserves has risen sharply alongside the surge in gold prices.
The Banque du Liban holds over 280 tons of gold, second only to Saudi Arabia in the Middle East—a rare occurrence for a country with such a small land area. The bank began accumulating gold reserves in the 1940s and 1950s to support the value of the Lebanese currency. Since 2019, Lebanon has been grappling with economic collapse, yet no consensus has been reached on a solution.
However, selling the nation's accumulated gold reserves faced strong public opposition, as people viewed it as a short-term measure benefiting a few at the expense of the majority.