Secretariat for the Economy Archives

Vatican financial reform going in the right direction, Pell says

Jan 15, 2021

Australian Cardinal George Pell, formerly the Vatican’s top official on financial affairs, said he believes the pope’s recent reforms signal progress, and called for additional competent laypeople to be involved in the process.

By Elise Ann Allen

New law brings needed transparency to finances, Vatican official says

Dec 29, 2020

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.

By Junno Arocho Esteves

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

Dec 29, 2020

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.

By John L. Allen Jr.

Pope moves against secretariat of state amid finance scandal

Nov 5, 2020

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.

By Nicole Winfield

Pope meets Pell: ‘Vindication’ yes, ‘resurgence’ not so fast

Oct 13, 2020

Monday’s encounter between Pope Francis and Australian Cardinal George Pell marked a vindication for the 79-year-old Australian prelate, but perhaps not a full resurgence.

By John L. Allen Jr.

People have right to know how Vatican uses resources, official says

Oct 1, 2020

The Vatican’s financial situation must be “a glass house” that displays transparency and honesty, letting Catholics know where its revenues come from and go, said the head of the Secretariat for the Economy.

By Carol Glatz