Lebanon Considers Gold Reserve Sale Amid Economic Crisis

Lebanon is contemplating the sale or lease of part of its substantial gold reserves as a strategy to rescue its economy, according to BlockBeats. The value of these reserves has increased significantly due to rising gold prices. Lebanon's central bank holds over 280 tons of gold, making it the second-largest holder in the Middle East after Saudi Arabia. This accumulation began in the 1940s and 1950s to support the Lebanese currency's value. Since 2019, Lebanon has faced a severe economic collapse, with stakeholders unable to agree on a resolution. The proposal to sell the nation's gold reserves has met with strong opposition from the public, who view it as a short-term solution benefiting a few at the expense of the majority.