Pope further tightens controls, centralisation of Vatican finances
Vatican City Reuters Pope Francis on Tuesday acted to eliminate wiggle room or foot- dragging by Vatican departments in imposing tighter financial controls, setting a deadline for the closing of investment portfolios in foreign banks, including in Italy. Francis issued a document known as a “rescriptum”, or re-writing, making clear that all investments by all […]
New Vatican policy orders foreign investment accounts closed
Reuters The Vatican on Tuesday issued an overarching investments policy to ensure they are ethical, green, low-risk, and avoid weapons industries or health sectors involved in abortion, contraception or embryonic stem cells. The guidelines order Vatican departments to close their investment accounts or stock holdings in foreign banks, including in Italy, and transfer them to […]
Vatican financial reform efforts continue amid scandals and deficit
Vatican CityRNS While Vatican finances suffered greatly during the COVID-19 pandemic and high-profile financial scandals maimed the church’s credibility worldwide, Pope Francis and his team of reformers continue their efforts to promote transparency in the institution’s wrought finances. In a long interview to Vatican media outlets on Monday, Bishop Nunzio Galantino, president of the Administration […]
Vatican reveals property holdings for first time in transparency drive
Reuters The Vatican released information on its real estate holdings for the first time on Saturday, revealing it owns more than 5,000 properties as part of its most detailed financial disclosures ever. The information was contained in two documents, a consolidated financial statement for 2020 for the Holy See and the first-ever public budget for […]