Lebanon world’s second
in gold reserve per capita
Along with foreign currencies
provides full coverage for the lira
Lebanon is the second country in the world in gold reserves per capita with 69.3 grams for each citizen.
Switzerland tops the world’s list with 136.3 grams per capita.
The value of gold reserves at the Central Bank (BDL) stood at $11.9 billion at the end of last March. Gold together with BDL’s foreign assets cover the money supply in lira and provide a strong support to the national currency,
Lebanon ranked 18th in terms of gold holdings among 96 countries, according to data of the World Gold Council as in mid-2018.
The value of Lebanon’s gold reserves represented 22.3 percent of the Arab world's aggregate gold reserves. They accounted for 3.6 percent of gold reserves of non-OECD countries and for 0.9 percent of global gold reserves.
Reported by Shikrallah Nakhoul
Date Posted: May 31, 2019