BEIRUT: Lebanon’s Central Bank Governor Riad Salameh says Lebanon holds the second biggest gold reserves in the region, resulting in a positive impact on the country's financial stability.
“Lebanon has the second largest gold reserves among countries in the Middle East and we consider this as a pillar of monetary stability in the absence of key natural resources and a safe haven in times of crises,” Salameh reportedly said during a meeting with students of various nationalities who came to Lebanon from Hatron University in the U.S.
In remarks published Wednesday by el-Nashra news website, Salameh stressed that gold has a “positive psychological” impact on confidence “which we strive to boost.”
He cited the decline of confidence in the global financial market as reason for increase in gold prices, saying that this, however, "has added momentum to the government-run bond market.”
Source: www.dailystar.com.lb
“Lebanon has the second largest gold reserves among countries in the Middle East and we consider this as a pillar of monetary stability in the absence of key natural resources and a safe haven in times of crises,” Salameh reportedly said during a meeting with students of various nationalities who came to Lebanon from Hatron University in the U.S.
In remarks published Wednesday by el-Nashra news website, Salameh stressed that gold has a “positive psychological” impact on confidence “which we strive to boost.”
He cited the decline of confidence in the global financial market as reason for increase in gold prices, saying that this, however, "has added momentum to the government-run bond market.”
Source: www.dailystar.com.lb
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