Pope Francis has made a decisive move to rectify a controversial financial initiative by abolishing a special fundraising commission for the Holy See that was established amid his hospitalization for pneumonia. The decree, issued by Pope Leo XIV, nullifies the commission’s bylaws, dismisses its members, and mandates that its assets be transferred to the Vatican. A new working group will be formed to devise funding proposals under the Pope’s approval.
The commission, announced on February 26 during Francis’s hospitalization, faced scrutiny for its all-Italian membership and lack of fundraising expertise, leading to concerns about its credibility. Critics suggested that the establishment was an opportunistic response to Francis’s earlier financial reforms, which included the transfer of significant funds from the State Department’s oversight.
This latest action reflects Francis’s efforts to address outstanding financial matters as he undertakes his Jubilee duties and prepares for future challenges. Recent financial reports indicate an encouraging trend, with the Vatican’s structural deficit reduced and a surplus achieved in 2024, signaling improved financial health and increased external donations.
Despite progress, there are calls for transparency regarding the Holy See’s finances, especially related to its underfunded pension system. Pope Francis has positioned himself as a reformer of Vatican finances, determined to implement stricter accountability and transparency. Pope Leo XIV echoed this sentiment, indicating that while improvements have been made, ongoing efforts are necessary to address financial challenges.
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