Economy Archives

Vatican COVID-19 commission seeks to ‘prepare the future’

Jul 1, 2020

Pope Francis believes that the human person is not immune to crises but always impacted by them. Being better or worse after each one, he’s often said, is “up to us.” With that in mind, the Vatican’s COVID-19 coronavirus crisis task force is identifying what needs to be changed.

By Inés San Martín

Papal economist says EU must do more to help members during pandemic

Apr 15, 2020

A top Vatican adviser on economic and social issues has challenged the effectiveness of the European Union over its handling of the COVID-19 coronavirus outbreak, calling not for the dissolution of the European Union, but a stronger body that has the power to force member states to offer mutual support in times of crisis.

By Elise Ann Allen

Businesses near Vatican reeling as coronavirus fears turn area into ghost town

Mar 10, 2020

The economic threat caused by a coronavirus-induced collapse in tourism is particularly existential for businesses operating near the Vatican, which are heavily dependent on the all-but-gone tourist trade, with many facing staggering losses that could force them to close their doors.

By Elise Ann Allen

Pope Francis says international debt can’t be paid at ‘price of unbearable sacrifices’

Feb 5, 2020

Speaking at a summit in Rome of some of the world’s most powerful financial officials, Pope Francis said the fact that five million children under five will die this year due to extreme poverty is something that should motivate the world to act.

By Inés San Martín

Pope’s direct experience of financial crisis informs views on economy, expert says

Feb 5, 2020

Eric LeCompte, executive director of Jubilee USA Network, says when Pope Francis goes against “vulture funds,” and calls for a new economic model, it’s because he has first-hand experience of the financial crisis these institutions caused in his home country, Argentina.

By Inés San Martín

Top Vatican official says Americans misunderstand pope’s social agenda

May 15, 2019

Cardinal Peter Turkson, one of Pope Francis’s top advisors, said Tuesday that every time he goes to the United States, the pope’s social agenda is misinterpreted as adopting either a socialist or communist approach to the economy.

By Elise Harris