To Use or Not to Use the Gold? That is the Question: Reflections on the Lebanese Crisis

2026: Billion USD

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In the debate regarding whether to use the Gold held at the Central Bank of Lebanon (BDL) to pay back depositors whose money have been stuck in the Lebanese banking sector since November 2019, three views have generally emerged. First, the view that the gold shouldn’t be used, end of story. Second, the view that part of the gold should be used but for investment in infrastructures, which in turn would stimulate economic growth and consequently help indirectly to restore back deposits. Third, the view that gold should be used and put to work, as this would immediately bring back deposits and confidence in banks.

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