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Category: Secretariat for the Economy

New law brings needed transparency to finances, Vatican official says

A new law that removes financial assets from the control of the Vatican Secretariat of State is a step forward on the path of financial reform, said Bishop Nunzio Galantino, president of Administration of the Patrimony of the Holy See.

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With latest shakeup, has the music stopped on Vatican financial reform?

Pope Francis has taken away away the power of the purse from the Secretariat of State, traditionally the Vatican’s 800-pound gorilla, and transferred it to the Administration of the Patrimony of the Apostolic See (APSA), the Vatican’s central bank. At the same time, he beefed up the oversight role of the Secretariat for the Economy.

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Pope Francis takes purse from Secretariat of State

The sweeping nature and speed of the moves is by Roman standards breathtaking — and raise questions about the shape of the broader curial reform.

The post Pope Francis takes purse from Secretariat of State appeared first on Catholic Herald.

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Pope moves against secretariat of state amid finance scandal

Pope Francis has given the Vatican secretariat of state three months to transfer all of its financial holdings to another Vatican office following its bungled management of hundreds of millions of euros in donations and investments that are now the subject of a corruption investigation.

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