Pressure Behind the Gold
In an attempt to tackle its prolonged economic downturn, Lebanon is exploring the possibility of selling off part of its gold reserves. Rising gold prices have made this option increasingly appealing.
The Second-largest Gold Holder in the Middle East
Lebanon’s central bank holds more than 280 tons of gold, making it the second-largest holder in the Middle East after Saudi Arabia. The reserves were gradually accumulated since the 1940s to support the national currency.
Public Backlash Grows
While the proposal has found some backing among politicians and bankers, the general public remains largely opposed. Citizens fear the move could worsen wealth inequality, enriching a few at the expense of the many.
- Gold reserves symbolize national wealth
- Selling gold may provide short-term gains but poses long-term risks
- Public demand grows for sustainable economic solutions