Pope Francis decrees better control of Vatican funds and foundations
A view of the dome of St. Peter’s Basilica in the Vatican. VATICAN MEDIA
By AC Wimmer
Catholic News Agency
December 7, 2022
Pope Francis issued a decree on Tuesday aimed at improving the financial accountability of funds, foundations, and other legal entities inside the Vatican.
In the future, these entities — also known as juridical persons — will be controlled by the bodies such as the Secretariat for the Economy and not just supervised by their respective institutions.
Pope Francis noted in his apostolic letter that foundations and other affected entities “are instrumental in the realization of the ends proper to the curial institutions at the service of the ministry of the Successor of Peter.”
It was therefore necessary, he added, “that they be subject not only to the supervision of the curial institutions from which they depend, but also to the control and surveillance of the economic bodies of the Roman Curia.”
Already existing instrumental juridical persons will have to comply with the provisions of the motu proprio within three months.
The scope of the law is limited, according to Vatican News: It does not extend to “curial institutions and offices of the Roman Curia, institutions connected with the Holy See, the Governorate of Vatican City State, and entities professionally engaged in activities of a financial nature.”
The news follows the announcement on Nov. 30 that Pope Francis has appointed Maximino Caballero Ledo, 62, to lead the Secretariat for the Economy following the resignation of Jesuit Father Juan Antonio Guerrero. The Spanish layman has been secretary general, the second-ranking position, in the economy office since August 2020.
Pope Francis established the Secretariat for Economy in 2014 as part of his financial reform of the Vatican. It oversees the financial aspects of both the Roman Curia and the Vatican City State administration, including a review of financial reports.
DONATE TO CBCP NEWS
CBCPNews is a church-based news agency operated by the Media Office of the Catholic Bishops’ Conference of the Philippines. This apostolate aims at helping the work of the new evangelization through the news media. This is non-commercial and non-profit. That being the case, it totally depends on generosity of its readers and supporters.
Should you wish to donate kindly press the donate button. Thank you.