Pope Francis has warned of a "serious imbalance" in the Vatican's pension fund, appointing a cardinal to manage the situation.
Delia Niculescu
International
foto:Godong / robertharding / Profimedia
Always see our news on Google
The pontiff has sent a letter to all the world's cardinals, as well as to the heads of the Vatican's various departments, warning of a "serious imbalance" in the Vatican's pension fund. He appointed a high-ranking cardinal, Kevin Farrell, to take over management of the fund, recognizing the need for structural changes. The Vatican is facing a significant budget deficit, and the pension fund's net liability for post-employment benefits is estimated at about 631 million euros.
Sources
Latest News
20:35
A vlogger was convicted after urging domestic violence against women during a live YouTube broadcast
20:20
Bolojan accuses PSD of losing 770 million euros by delaying the pay law: “When were they drunk: when they failed to vote on the law in August, or when they are now proposing its adoption in the governing program?”
20:20
Donald Trump rejects the use of nuclear weapons against Iran
20:19
Four Romanians have been arrested in Switzerland after police found stolen jewelry and other goods worth tens of thousands of francs
19:45
Ilie Bolojan will recommend that the PNL vote for the Niculescu Government / The final decision will be made on Saturday
See more news
NEWS ON THE SAME TOPICS
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
.webp)
