The world's smallest country has a big budget problem. The Vatican doesn’t tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging,

The world's smallest sovereign state, Vatican City, is facing a substantial budget crisis, with its central government, the Holy See, struggling to cover operational costs due to declining donations and underperforming financial assets. Pope Leo XIV is now tasked with finding solutions to pull the city-state out of the red.

Robert Prevost, now known as Pope Leo XIV, is the first US-born leader of the Catholic Church. However, his elevation to pontiff has raised a legal issue: Can he continue holding American citizenship,