BDL published its latest balance sheet on January 31, 2025, where it reported an increase in the country’s gold reserves from $24.7 billion in mid-January to $25.7 billion on January 31. In comparison, Lebanon’s gold reserves were valued at only $15 billion by the end of 2019.

While this increase will have a positive impact on Lebanon’s balance of payments, it doesn’t fully explain why the country holds so much gold. In fact, Lebanon has 286.8 tons of gold reserves, the second-largest stock in the region and the 18th largest globally. I’m not suggesting we dispose of all this gold, but given the economic crisis the country is facing, it would make sense to use the central bank’s fixed assets to reimburse depositors and help revive the economy.

Let’s hope this new government will present a transparent and solid plan to make good use of this gold and put Lebanon back on the right track.