Pope Leo's election, partly due to his American background and perceived financial acumen, is showing early signs of success in reviving dwindling donations to the Vatican. Conservative US Catholic donors express high optimism, though significant contributions haven't materialized yet. This is crucial, as the Vatican reported an €83 million deficit in 2024, exceeding previous reports and adding to existing financial liabilities, including pension obligations and losses from the Vatican Bank.

Prepared by Emily Rhodes and reviewed by editorial team.