The Financial Mess Facing the Vatican

梵蒂冈面临的金融乱局

The Journal.

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2025-05-08

20 分钟
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Just days before his death, Pope Francis wrestled with an enormous problem: the Vatican’s dire finances. The world’s smallest country is now facing a budget deficit of millions, and a looming crisis in its pension fund. As the Papal conclave meets this week to vote for a new leader, WSJ’s Drew Hinshaw pieces through how centuries of financial mismanagement have culminated into a mess that the next pope will inherit. Jessica Mendoza hosts. Further Listening: - Pope Francis Has Died. What’s Next for the Catholic Church?  - The Mormon Church’s $100 Billion Secret Fund  Sign up for WSJ’s free What’s News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices
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  • It was winter at the Vatican, and Pope Francis was desperate.

  • Francis sat in the reception room, short of breath.

  • Aides shuffled in and out as the Pope worked through what he thought was a bad cold.

  • And advisors and Vatican officials are coming in and presenting the details of a...

  • city-state, effectively, that is awash in priceless treasures, but is falling deeper into debt.

  • Our colleague Drew Henshaw spoke with us from Rome.

  • How much did the finances of the Vatican actually kind of weigh on Pope Francis before his death?

  • Right up until the end.

  • That day in February, Francis reviewed documents underneath a cherished painting.

  • depicting Mary, undoer of knots.

  • In it, the Virgin Mary is shown unraveling a long ribbon.

  • Three days later, Francis was hospitalized with double pneumonia.

  • And on April 21st, he died,

  • leaving his successor with this economic puzzle that one pope after the next has tried to solve.

  • Today, as the College of Cardinals gathers to elect a new leader,

  • a major question looms over the conclave.

  • What will the next pope do about the Vatican's financial crisis?

  • I mean, this is one of the hidden stories of really the modern papacy,

  • is how much the Bishop of Rome is the ultimate bookkeeper for the Vatican.

  • How would you describe the financial mess that this next pope will inherit?