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Help Wanted: Holy See's Financial Overhaul Needs Outsiders

Source: pillarcatholic.com

The Holy See faces a financial crisis with a $932 million deficit in 2023, forcing it to seek outside help.
Vatican leaders plan to hire external financial experts and restructure operations to cut costs and boost revenue.
This shift marks a break from centuries of self-reliance, potentially transforming how the Catholic Church manages its money.

The Pillar reports on the Vatican's deepening financial woes, highlighted by a massive operating deficit last year. Key players include Cardinal Timothy Radcliffe, appointed to lead a new financial advisory group, and top officials like the Secretariat of State and the Governorate of Vatican City State. The core argument is that the Holy See must hire outside experts to overhaul its finances, as internal efforts have failed. It matters because it signals unprecedented outside intervention in Chu