Watch: Vatican releases Pope Leo fundraising video amid financial crisis

The Vatican has released a new fundraising video centred on newly elected Pope Leo XIV, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church.

The one-minute video, shown on giant screens in St. Peter's Square and spread on social media, asked for donations to Peter's Pence - a papal fund used to support church activities and charity work. According to the latest available records, the fund received 48.4 million euros in donations in 2023.

The Vatican has not published a full budget report since 2022, but the last set of accounts included an 83-million-euro shortfall, sources said.