Cardinal Robert Prevost has been elected the new pope. He has taken the name Pope Leo XIV
Cardinal Robert Prevost is aged 70 years.
Cardinal Robert Provost is from the state of Chicago, he is the first U.S. pope. The decision came on the second day of voting.
A crowd of clergy and staff members at Chicago’s Catholic Theological Union erupted in a joyful cheer as newly elected Pope Leo walked out onto the Vatican balcony on Thursday, some four decades after he graduated from the South Side school.
It was an “explosion of excitement and cheers that went up in the room … many of us were just simply incredulous and just couldn’t even find words to express our delight, our pride,” said Sister Barbara Reid, the president of the theology school.
Reid said the room fell into prayer for Pope Leo, who graduated from the school in 1982 with a masters degree.
“We are just immensely grateful for the extraordinary service he has given to the church for so many years,” he said.
Reid described him as a warm, perceptive person, who is able to listen to people from all walks of life.
“He’s a person who inspires confidence and trust,” she said. As the new leader of the 1.4-billion-member Catholic Church, Pope Leo XIV faces many challenges.
Among the pressing issues are a widening gap in Vatican finances and church attendance sliding in many Western countries. Doctrinal debates over issues such as ordaining women as clergy and LGBTQ Catholic inclusion portend the coming divisions.
The Vatican’s financial crisis was one of Pope Francis’ last headaches.
Three days before his hospitalisation in February, he ordered the creation of a new high-level commission to encourage donations to the Vatican, which is facing a budget shortfall and growing liabilities for its pension fund.
Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two sources told Reuters.
The shortfall in the pension fund was estimated to total some 631 million euros by the Vatican’s finance tsar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned.
In terms of doctrinal disputes, Francis created two commissions to consider ordaining women as deacons, who are ministers like priests but cannot celebrate Mass. One of the commissions has not yet completed its work.
Francis also allowed for priests to bless same-sex couples, on a case-by-case basis.
His moves drew criticism from conservative Catholics, including a few cardinals, who feared he was watering down the faith.
Victims’ advocates have also said the next leader of the Catholic Church needs to put tackling the issue of clerical sex abuse at the heart of their papacy.
