Pope Francis on Monday Feb 24,2014 created a new finance ministry to oversee the
Holy See's economic affairs in a move aimed at increasing transparency
and boosting funds for the poor following a wave of scandals at the
Vatican bank.
The Vatican Finance Ministry will be headed up by Australian Cardinal George Pell, and will prepare an annual budget for the Vatican as well as imposing international accounting standards and reporting practices
The Vatican Finance Ministry, formally a "Secretariat for the Economy", will be governed by a 15-member council of 8 clergymen from different parts of the world and 7 lay international financial sector experts.
The Vatican Finance Ministry will be headed up by Australian Cardinal George Pell, and will prepare an annual budget for the Vatican as well as imposing international accounting standards and reporting practices
The Vatican Finance Ministry, formally a "Secretariat for the Economy", will be governed by a 15-member council of 8 clergymen from different parts of the world and 7 lay international financial sector experts.
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