Pope Leo XIV: Steering the Vatican's Financial Future?

Robert Prevost, previously a bishop in Peru noted for his repair-it-yourself attitude, is addressing the daunting financial challenges of the Vatican under the new leadership of Pope Leo XIV.

The pope, who is the first American to hold the position, faces significant financial issues, including structural deficits and pension shortfalls. His American roots may prove critical, as U.S. donors have been a vital economic support for the Vatican. Interviews suggest an American leader might bolster confidence in financial stewardship and transparency.

Pope Leo XIV inherits reforms initiated by Pope Francis but must contend with unfinished business. Transparency, accountability, and donor trust pose ongoing challenges as the Vatican works to stabilize its financial situation.

(With inputs from agencies.)