Lebanon under threat of entering the stage of reserve depletion: report

Economically and financially, it seems that the picture is getting darker, especially on the financial level, as reliable information confirmed to Al Joumhouria newspaper that serious fears were expressed by international financial sources that Lebanon would enter, during a not-long period, a stage of definitively "drying up" its hard currency reserves, in light of daily “bleeding” occurring.  

This article was originally published in, translated from the Lebanese newspaper Al Joumhouria.

The information warned that signals of this kind were received by economic sources, confirming that the depletion of reserves means it has reached the point of no return.  

The economic sources also affirmed that the current economic and financial situation had reached the highest danger levels, as the financial bleeding has not stopped, and the reserves are crippling. The depletion is sometimes due to suspicious transfers, the lifting of irresponsible subsidies, and clumsy financial policies.   

The sources warn that with the permanent bleeding, the matter may reach the gold and an attempt to sell all of it or sell part of it; however, regardless of whether selling gold will achieve a financial breakthrough or not, the greatest danger in it is that gold “dollars” will be wasted.