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In consideration of his age, the Vatican deemed it appropriate "to impose on the accused his retirement to a life of prayer and penitence, also in reparation to the victims of his abuses," said the ruling, read by Archbishop Ezzati.
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The remaining $7 billion has largely been paid in reparations to those who lost property in Kuwait.
Every year, Iraq still pays billions of dollars in reparations to Kuwait for Saddam Hussein's disastrous invasion.
It also established a fund that paid some $1.6 billion in reparations to formerly interned Japanese Americans or their heirs.
It has been 20 years since the United States officially apologized for the internment, paying $20,000 in reparations to each victim.
Germany owed enormous sums in reparations to France and Britain, France was in hock to Britain and the US, and Britain in its turn also had huge debts to America.
But it has a particular poignancy — and circularity — since Italy agreed in August to pay Libya, a former colony, $5 billion in reparations to compensate for its occupation.
West Germany did so in 1951 and paid out an estimated $37 billion in reparations to Israel, Jewish organizations and individual claimants by 1990.
The extent of abuse that occurred in these institutions, including sexual abuse, is perhaps best represented by the Canadian government's 2006 offer of some $2 billion in reparations to former residential school pupils.
It was his second such trip since 2008, when the Berlusconi government pledged $5 billion in reparations to compensate Libya for Italy's early 20th-century colonial occupation; energy-rich Libya subsequently became Italy's leading trade partner.
Iraq owes $200 billion, about half in reparations to Saudi Arabia and Kuwait for damages surrounding the invasion of Kuwait and the 1991 Persian Gulf war, the rest borrowed from France, Russia, Germany and Japan by Saddam Hussein's government.
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