Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.
The new pope, Pope Francis I, is a fan of a local soccer club in Buenos Aires that began by pulling at-risk boys off the streets. He considers social outreach a key business of the Catholic Church. To some, its global networks make up the largest charity in the world.
John Katunga of Catholic Relief Services in Kenya cheered the news from the Vatican. He wants the new pope to push for fair lending terms and for development programs in African economies — starting with the World Bank and the International Monetary Fund.
“These are the big ones,” says Katunga, “and have really a direct bearing on how Africa can develop itself and lift out of poverty.”
Pope Francis has criticized the IMF in the past for facilitating inequality. In recent decades the Vatican has sought to be a moral voice — making the case greed was at the center of the financial crisis, and that an increasingly linked world economy should focus squarely on those left behind.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.