Get all your news in one place.
100’s of premium titles.
One app.
Start reading
International Business Times UK
International Business Times UK
World
Rohit David

Pope Leo XIV Ushers in Era of Cautious Reform as Vatican Faces £66m Deficit

Pope Leo XIV, the first US pontiff, takes a cautious, listening-first approach, sidestepping Francis’ bold style. Can he unify a divided Church and fix Vatican finances? (Credit: Vatican News)

Pope Leo XIV, the first American pontiff, in his first month as the 267th leader of the Catholic Church, has taken a markedly different approach from his predecessor, Pope Francis.

Elected on 8 May 2025, the former Cardinal Robert Prevost has prioritised a methodical, low-profile style, focusing on listening rather than swift reforms.

This shift, reported by Reuters on 4 June 2025, contrasts sharply with Francis' bold, immediate actions in 2013, such as opting to live outside the Vatican's apostolic palace and creating a new advisory group of cardinals.

As Leo navigates a Vatican grappling with a £66 million ($89 million) budget shortfall and a £505 million ($683 million) pension fund gap, his deliberative approach signals a new chapter for the 1.4 billion-member Church.

Embrace Deliberate Leadership

Unlike Francis, who moved quickly to reshape the Vatican's structure, Leo has avoided major appointments or announcements about foreign trips in his first weeks.

Reuters said that he has led two dozen public events but has not disclosed where he will reside in the Vatican, a decision Francis made within days. His associates describe Leo as a careful listener.

Rev Anthony Pizzo, who knew Leo at Villanova University in 1974, told Reuters, 'He seeks to hear many viewpoints before deciding.'

This measured pace is evident in Leo's one-on-one meetings with senior Vatican officials, which Rev. Jorge Martinez Vizueta, a former colleague in Peru, suggests are a way to 'learn quickly' about the Church's challenges.

X posts reflect mixed sentiment, with some praising Leo's reflective style while others urge faster action.

Tackle Financial Woes Strategically

The Vatican's financial troubles loom large, with a £66 million ($89 million) budget deficit and a pension fund shortfall estimated at £505 million ($683 million) in 2022, likely larger now, according to Reuters.

Leo has yet to outline a financial strategy, but his methodical approach suggests a focus on long-term solutions.

With £1.2 billion ($1.6 billion) in annual operating costs at stake, Leo's cautious steps could rebuild trust in Vatican finances.

Bridge Divide with Inclusive Dialogue

Leo inherits a Church divided over Francis' progressive reforms, such as blessings for same-sex couples and communion for divorcees, which sparked conservative backlash.

The Guardian notes ongoing debates over women's ordination and declining European adherence as key challenges.

Leo has vowed to continue Francis' social justice themes, like combating poverty and protecting the environment, while promising conservatives to preserve 'the rich heritage of the Christian faith,' as stated during his inaugural Mass on 18 May 2025.

His calls for unity and rejection of autocratic leadership, reported by Reuters, aim to heal rifts.

By engaging journalists on 12 May 2025 to advocate for peace and free speech, Leo signals a commitment to dialogue, though X discussions show some Catholics remain wary of his stance on doctrinal issues.

Steer Church with Steady Vision

Pope Leo's deliberate, listening-first approach marks a bold departure from Francis' dynamic style, yet it may be exactly what the Church needs to navigate its financial and doctrinal storms.

With a potential decade-long papacy ahead, the 69-year-old pontiff has time to carve a legacy that balances tradition and modernity.

His focus on unity and careful decision-making could stabilise the Vatican, but bold action will be needed to address its £66 million ($89 million) deficit and global challenges.

Leo's path is his own, methodical, inclusive, and resolute, and the world watches as he shapes the Church's future.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.