Joseph Cotterill @jsphctrl.ft.com · Dec 3 Lebanon's gold reserves are now valued larger than its GDP, BofA notes. Up from below $14bn or 25% of GDP in 2019 before Lebanon's default and banking collapse, to $38bn, or 113% of GDP, which went down as gold prices went up. (BofA chart)
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“As an illustrative example, a gold-collateralised repo loan with international institutions for the surplus value since September 2019 at a 50% haircut could generate $12bn in liquidity“ - BofA. Given the fad for collateralised sovereign loans, wouldn't be surprised if something like this happens.