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For His Birthday, Leo Reverses Vatican Pay Cuts
Newser • • world
Key Points:
- Pope Francis implemented financial cuts to address the Holy See's structural deficit of around $80 million and a $1.14 billion pension fund shortfall, worsened by the pandemic's impact on Vatican Museums' revenue and investment fluctuations.
- Pope Leo, skilled in financial matters, has revised or reversed several of Francis' financial decisions after finding the Vatican's situation better than initially thought and acknowledging reforms made by Francis.
- Leo canceled Francis' plan to relocate Vatican secret archives and library holdings outside the city, opting instead to build a new facility on a current parking lot within Vatican City to accommodate the growing collection.
- On his birthday, Leo visited the Vatican Apostolic Library, highlighting his personal connection through his mother, a librarian, and inaugurated an art exhibition about water, the first in a new five-year series titled "Catastrophe and Marvel."
