Colombia’s Catholic Church is being hit hard by the global financial
crisis as financial contributions of worshipers has plummeted and the
church’s activities on the stock market have been all but profitable.
According to father Felipe Acosta, economist for the Church, the income through donations has fallen 25 percent, which is seriously endangering the Church’s activities.
The Church also made some significant losses on the stock market, the Church’s economist added.
“This year ahs been very hard for the missionary institutions that for the most part live off donations and investments in the stock market. This global crisis is affecting us a lot,” Acosta told Caracol Radio.