[Lebanon Considers Selling Gold Reserves Amid Strong Public Opposition] Lebanese bankers and politicians are considering selling or leasing a portion of the central bank's massive gold reserves as a way to revive the country's economy. The value of these reserves has soared with rising gold prices. The Lebanese central bank holds over 280 tons of gold, second only to Saudi Arabia in the Middle East, a rare feat for a small country. The bank began accumulating gold reserves in the 1940s and 50s to support the value of the Lebanese currency. Since 2019, Lebanon has been plagued by economic collapse, but the parties have failed to reach an agreement on a solution. However, the sale of the nation's accumulated gold reserves has met with strong public opposition, who see it as a stopgap measure by a minority at the expense of the majority.
