VATICAN CITY - Speaking in the Pope Video for May, Pope Francis laments that “the true economy, the one that creates work, is in crisis.” 

  In May’s edition, entitled ‘The World of Finance,’ the pope addresses his concerns for the global economy and its effect on ordinary people, and concludes with the prayer that “those in charge of finance will work with governments to regulate financial markets and protect citizens from its dangers.”

  The Pope Video is a project run by the Pope’s Worldwide Prayer Network, in which the pontiff presents his prayer intention for the month. This edition was created in collaboration with The Dicastery for Promoting Integral Human Development.

  As a result of the Covid-19 pandemic, global GDP suffered its biggest drop since World War Two, and with the huge damage this has had, particularly on the poor, the pope expresses his hope that those in charge of global markets can do what they can to restrict damage to those most at risk.

  He says, How far away is the world of high finance from the lives of ordinary people! If finance is unregulated, it becomes pure speculation driven by various monetary policies. This situation is unsustainable. And it is dangerous. So that the poor do not suffer painful consequences from this system, financial speculation must be carefully regulated.”

  He ends with the message of hope, that “we still have time to begin a process of global change to practice a different kind of economy, one that is more just, more inclusive and sustainable —and leaves no one behind.”

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