Lebanon considers selling gold reserves to save banks and the economy

MarsBitNews · 2026-02-23T07:52:02+00:00

Lebanese bankers and politicians are considering selling or leasing the central bank's gold reserves to save the economy, as the 280 tons of gold they hold have increased in value due to rising gold prices. Some members of the public strongly oppose this move, believing it harms the interests of the majority.

MarsBitNews

2026-02-23 07:52:02

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Mars Finance 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 the rising gold prices. The Lebanese Central Bank holds over 280 tons of gold, second only to Saudi Arabia in the Middle East, which is rare for a country with a relatively 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 plagued by an economic collapse, but parties have failed to reach a consensus on solutions. 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.

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