Vatican discloses uses of Pope’s fund, hoping to reverse sagging trust
Vatican City Reuters The Vatican, in an apparent attempt to boost the confidence of the faithful in how their charitable contributions to the Pope are used, on Thursday issued the first detailed disclosure of his main fund. The Peter’s Pence fund, whose aim is to help the Pope run the church, is made up of income […]
Vatican low on reserves to cover deficit, seeking donations
Rome, ItalyAP The Vatican warned Friday that it has nearly depleted its financial reserves from past donations to cover budget deficits over recent years, as it urged continued giving from the faithful to keep the Holy See afloat and Pope Francis’ ministry going. The Vatican published its 2021 budget in its latest effort at greater […]
Vatican projects nearly €50 million deficit due to COVID losses
Rome, ItalyAP The Vatican said Friday it expects a deficit of nearly €50 million this year because of pandemic-related losses, a figure that grows to €80 million when donations from the faithful are excluded. The Vatican released a summary of its 2021 budget that was approved by Pope Francis and the Holy See’s Council for […]
Pope formally strips Vatican Secretariat of State of assets
Rome, ItalyAP Pope Francis has formally stripped the Vatican Secretariat of State of its financial assets and real estate holdings following its bungled management of hundreds of millions of euros in donations and investments that are now the subject of a corruption investigation. Francis signed a new law over the weekend ordering the Secretariat of […]
With two swift moves, Pope Francis rekindles hope for financial reform
Vatican CityRNS Tranquil on its surface, as COVID-19 has shut down nearly all activity in its churches, museums and offices, the Vatican has nonetheless been quietly dealing with its troubled finances during the pandemic. The world’s smallest state relies for revenue on a mix of donations, the sale of souvenirs and tickets to see its […]
Vatican police raid home, office of influential church official in investment inquiry
Vatican CityRNS Vatican police have raided the office and apartment of Monsignor Alberto Perlasca, a former top deputy in the Catholic Church’s powerful Secretariat of State, seizing documents and computers, according to a Vatican statement issued on Tuesday. The raid was ordered by Gian Piero Milano, the Vatican’s chief presecutor, and resulted from investigations into […]