The pope has made an important decision in the reorganization of the Vatican's finances.
He did this with a letter to the Secretary of State on Aug. 25, which the Vatican released today.
In it, he informs that the Secretariat of State will no longer control economic or financial funds and assets.
Now these assets will go to the APSA, acronym of the organism that administers the patrimony of the Holy See.
The pope has appointed three senior managers to make this transition within three months. They are the Vatican's number three, Edgar Peña Parra; the president of APSA, Nunzio Galantino; and the prefect of the secretariat for the economy, Juan Antonio Guerrero Alves.
In the letter, the pope asks Cardinal Parolin that the Secretariat of State “leave or eliminate the reputational risks of investments in London and of the Centurion Fund.”
He was referring to the process of buying a property in London's Chelsea district, in which the negotiators have taken millions of euros from the Vatican.
In the Centurion Fund the Secretariat of State invested at least 70 million euros. The fund diverted part of it to tax havens or to produce films such as the sequel to “Men in Black” or Elton John's biography.
POPE FRANCIS
“Rigorous cost control curbs the recurring temptation of those in political or administrative positions to manage resources senselessly.”
From now on, the Secretariat of State will have to present an annual budget like the other Vatican departments, which will be studied, and eventually approved.
The Administration of the Patrimony of the Apostolic See will then deliver the amount budgeted, and the Secretariat for the Economy will verify that it is properly spent.
In other words, all the departments will have to account for their expenses and it will be more difficult for the Vatican's money to be misspent.
JMB
Translation: Christian Campos
