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Riad Salameh with the gold reserves..Does he mortgage it?

by Alexandra Hartman Editor-in-Chief

The image of the Governor of the Banque du Liban, Riyad Salameh, near the Lebanese gold bars, which spread on social media, is not promising at all. The Lebanese feared that the fate of the gold would be the same as the fate of the lira, which Salameh had always said was a thousand good, but suddenly it reached rock bottom.

After that, the ruler of the bank became a man who was not completely trusted, and some saw his picture next to the bullion as “a bad omen for the assets of the Central Bank.” Internationally, following Eurobond holders demanded solutions to the debt default problem.

The image of safety came following the Banque du Liban completed an audit of its gold assets that was conducted by a professional foreign company, according to a statement issued by the bank.

This is the first time that the Lebanese have seen a picture of gold owned by the Lebanese state, and the Central Bank says that the audit came following demands from the World Bank, but activists on the communication sites question the timing, as the Central Bank did not cooperate with many requests to carry out the audit over the years. the previous collapse, so the timing for them became suspicious.

The political class may have found that the only way out of the political and economic crisis is to sell or mortgage the gold or part of it, especially before the election of a new president of the republic so that his term does not start faltering, and following all means to obtain money, whether from the IMF or from countries that used to Lending or giving Lebanon financial deposits. Many Lebanese had warned, for years, once morest the step of violating gold reserves.

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