Head of Vatican Finances: No Default but ‘Difficult Years’ Ahead

National Catholic Register

May 13, 2020

By Edward Pentin

Jesuit Father Antonio Guerrero Alves told Vatican News that he anticipates a steep drop in annual revenues, due to the coronavirus pandemic.

The Vatican is not at risk of default but has “difficult years ahead” and could lose nearly a half of its annual revenue due to the coronavirus, the head of Vatican finances has said.

In a May 13 Vatican News interview with Andrea Tornielli, the editorial director of the Dicastery for Communications, Jesuit Father Antonio Guerrero Alves, who last year succeeded Cardinal George Pell as prefect of the Secretariat for the Economy, said the “most optimistic calculate a decrease in revenue of around 25%, the most pessimistic, around 45%.”

The Spanish Jesuit added that his optimistic and pessimistic forecasts depend on “external factors” and how much the Vatican can reduce costs.

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