Pope Francis has called for world financial reform, saying the global economic crisis has made life worse for millions of people.

Speaking at the Vatican, he condemned an economic "dictatorship", and said money should serve rather than rule.

SOUNDBITE: (Italian) POPE FRANCIS SAYING:

"The joy of life is diminishing, indecency and violence are increasing. Poverty is becoming more and more evident. People struggle to live, and often live in an undignified manner."

His comments came as the Vatican Bank moved to increase transparency.

The institute, which some call the world's most secretive bank, says it will launch a website and begin publishing an annual report.