Lebanon says no need for gold sales to repay depositors

Lebanon says no need for gold sales to repay depositors

Lebanon’s central bank is “fairly asset-rich” and will not need to sell any gold reserves to pay depositors, the country’s economy minister has said. Gold reserves valued at $40 billion as of December 15 are important as they provide confidence to asset holders, Amer Bisat told Bloomberg TV, citing central bank data. He said the central bank can back a plan to repay most depositors whose funds have been frozen for years due to the country’s fina…