What happened?
The Vatican is facing a financial crisis thanks to “persistent inefficiencies and hits to investment income”, according to the Wall Street Journal.
According to “senior Vatican officials”, the Holy See’s budget deficit has doubled since 2017 to about £60m ($75m). Its income is around £240m ($300m).
Why was it under-reported?
The article was behind the Wall Street Journal’s paywall, meaning that only subscribers got the full story. But other news organisations also seemed uninterested in what appears to be a major development.
