Vatican faces financial crisis as donations decline under Pope Francis

The Vatican is facing a significant financial crisis, with reports indicating a potential bankruptcy due to declining donations under Pope Francis. The Catholic Church's global headquarters has an operating deficit of $87 million as of 2023. This financial strain is affecting both retired and current staff, raising concerns about their livelihoods. The situation has worsened since the COVID-19 pandemic and follows previous financial troubles during the European recession in 2012. Pope Francis, who has led the Vatican since 2013, is now under scrutiny as the Church grapples with these ongoing financial challenges.