Pope Francis moves financial admin out of Secretariat of State

Pope Francis and Cardinal Pietro Parolin (CNS/Alessandro Bianchi, Reuters)

Pope Francis has requested that responsibility for financial funds and real estate assets, including a controversial London property, be transferred out of the Vatican’s Secretariat of State. Source: CNA.

The Pope asked for the management and administration of the funds and investments to be given instead to APSA, which functions as the Holy See treasury and sovereign wealth manager, and also administers payroll and operating expenses for Vatican City.

Pope Francis’ decision, outlined in an August 25 letter to Cardinal Pietro Parolin, was made as the Secretariat of State continues to be at the centre of unfolding Vatican financial scandals.

In the letter, made public by the Vatican yesterday, the Pope asked for “particular attention” to be paid to two specific financial matters: “investments made in London” and the Centurion Global investment fund.

Pope Francis requested that the Vatican “exit as soon as possible” from the investments, or “at least dispose of them in such a way as to eliminate all reputational risks”.

He also wrote in the letter that, given the changes he has requested, the role of the Secretariat of State’s Administrative Office, which managed the financial assets, should be redefined or the necessity for its existence evaluated.

The Pope requested the Secretariat for the Economy have oversight over all administrative and financial affairs of the offices of the Roman Curia, including the Secretariat of State, which will have no financial oversight.

FULL STORY

Pope Francis transfers financial administration out of Secretariat of State (By Hannah Brockhaus, CNA)

RELATED COVERAGE

Pope expedites transfer of management of Secretariat of State assets (CNS

Mass on Demand

home-video-thumbnail

From Parish of Our Lady of The Way, North Sydney & Lavender Bay. The first Mass of the day on YouTube.
Mass on Demand donate

Daily Prayer

Daily Prayer

All your daily readings, reflections and prayers can be found here... 

view