27, July 2024
Bishop Bibi urges Catholic Women in Cameroon to live Christian Faith “in all aspects” 0
Bishop Michael Miabesue Bibi of Cameroon’s Catholic Diocese of Buea has called upon members of the Catholic Women Association (CWA) in the Central African nation to be consistent in practising their Christian faith, allowing it to influence all aspects of their lives.
In his homily during the opening Mass of the 10th CWA National Congress, Bishop Bibi urged the Catholic women to “work diligently to foster the mission and piety of CWA.”
“We are called to live out our faith in all aspects. Our faith should be seen in all the deliberations we carry out in this congress,” he said during the Friday, July 26 Eucharistic celebration at Regina Pacis Small Soppo Cathedral of Buea Diocese.
He lauded CWA members in Cameroon for being “a new model of faith for our contemporary world” and appealed, “You must persevere in your faith. You must make sure that you do not allow the distractions of this world to come between you and your faith.”
Despite the difficulties and challenges in society, Bishop Bibi noted, CWA members need to “always remain consistent, trusting that God, our Heavenly Father, will continue to accompany you in this journey that you have undertaken.”
Reflecting on the 60th Anniversary of the existence of CWA in Cameroon, the Local Ordinary of Buea Diocese said, “It is the gift of faith that has sustained the Catholic Women Association in its mission since 1964.”
The Cameroonian Catholic Bishop, who has been at the helm of Buea Diocese since December 2019, first as Apostolic Administrator, and since February 2021 as the Local Ordinary, thanked God for the diverse gifts and blessings CWA members have received over the past six decades.
“The CWA as an apostolate has done a lot in strengthening the faith of Catholic women in our country and in the diaspora,” he said during his July 26 homily.
The July 24-28 congress at Bishop Rogan College in Cameroon’s Buea Diocese has been organized under the theme, “CWA Women: Artisans of Human Fraternity for World Peace in Church that Goes Forth.”
Participants in the national event that has brought together over 500 Catholic women from across Cameroon are to elect new leaders for the association.
In his July 26 homily, Bishop Bibi underscored the importance of electing servant leaders, saying, “This Congress is an opportunity to craft out methods of providing good leadership for the entire Catholic Women Association.”
“Let us take our time to prayerfully choose leaders who act after the heart of God and foster the growth and holiness of the CWA wherever they are found,” the Catholic Church leader, who started his Episcopal Ministry in March 2017 as Auxiliary Bishop of Cameroon’s Bamenda Catholic Archdiocese said.
He implored, “May the Blessed Virgin Mary, our mother and model of faith help us. May she protect us so that the deliberation of this Congress may benefit families and society at large.”
Source: aciafrica
1, August 2024
Rome: New report suggests long-term worries for Vatican finances 0
A new analysis of the Vatican’s financial situation by an Italian news outlet contains both good and bad news for papal finances, pointing to relative success in efforts to contain ballooning deficits but also seemingly irreversible long-term declines.
According to an overview of the most recent financial data published July 26 by La Repubblica, Italy’s most widely read daily newspaper, the Vatican’s annual operating deficit grew by roughly $5.4 million in 2023, a lower figure than in past years. The report suggested the result was due to the impact of both spending cuts and also efforts to generate more realistic appraisals of the value of Vatican properties.
Among the cost-cutting measures adopted in recent years include new limits on hiring and contracting, as well as efforts to increase the rents collected on some Vatican properties which are leased commercially and to put others up for sale.
The report cited a recently completed financial statement approved by the Vatican’s Council for the Economy, led by German Cardinal Reinhard Marx. According to the report, the deficit for 2023 amounted to over $90 million, with income of $1.25 billion and expenses of $1.34 billion.
Income in 2023 actually grew by $30 million, according to the financial statement, but expenses also went up by $36 million due to the impact of inflation.
The statement also indicated that the size of the 2023 deficit could still shrink somewhat depending on what the actual performance of the Vatican’s investment portfolios match projections.
The Repubblica analysis also found that income from the annual Peter’s Pence collection, which supports the works of the pope, amounted to $52.5 million in 2023, an increase over the $47.2 million collected in 2022.
Nonetheless, the net gain from the collection was offset by the fact that the fund’s reserves were once again draw upon in 2023 to support the Roman Curia, the Vatican’s chief administrative bureaucracy, to the tune of almost $98 million.
Moreover, the long-term trend in income from the fund is clearly downwards. According to the Repubblica analysis, collections dropped 23 percent overall from 2015 to 2019, and are poised for further reductions.
To some extent, those declines may be related to financial scandals, such as the aborted $400 million purchase of a former Harrods warehouse in London that resulted in the criminal convictions of nine figures for fraud, including Italian Cardinal Angelo Becciu. Given that Peter’s Pence also is sometimes viewed as a referendum on the popularity of the current pope, various controversies surrounding Franci may also have had an impact.
More basically, however, most observers believe the core factor is that much of the Peter’s Pence income derives from wealthier nations, where Catholic populations, and therefore Catholic giving, have been in decline for decades.
Declines in income are especially worrying for Vatican accountants today, given concerns about an aging workforce and unfunded pension obligations down the line. There’s also alarm that rising costs and declining income could eventually compel the Vatican to either trim its payroll or cut salaries, or both, at time when both the volume and the complexity of the workload from around the world is increasing rapidly.
The financial statement reportedly approved by the Council for the Economy concerns the Holy See, and mostly excludes both the Government of the Vatican City State, which is responsible for administration of the physical territory – including income, for example, from the Vatican Museums – and also excludes the Institute for the Works of Religion, the so-called “Vatican bank,” which for 2023 showed $33.2 million in income and a total of $5.9 billion in client assets.
However, it’s considered improbable that income from either the city state or the IOR will be sufficient in coming years to offset the Vatican’s broad deficits, leaving it unclear for the moment how the losses will be sustained.
Source: Crux