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To adapt to the needs of the times

· New economic framework for the Holy See presented ·

Motu Proprio for the transferral of the ordinary section of APSA to the Secretariat for the Economy

The Administration for the Patrimony of the Holy See (APSA), the pension fund, Vatican media and the Institute for the Works of Religion are about to change. The goal — said Cardinal George Pell, Prefect of the Secretariat for the Economy — is to “improve the economic and administrative management of the Holy See and of Vatican City State”. The central changes initiated by the Secretariat for the Economy with the support of the Council of Cardinals and with Pope Francis' approval were illustrated on Wednesday morning, 9 July, during a press conference in the Holy See Press Office. They are necessary changes, the Cardinal said, which will respond to the challenges that COSEA, the study commission which has been working in recent months on various issues, and are also urgent. He said that “the Holy Father has made it clear these changes should move forward expeditiously”.

Among the initiatives outlined to the journalists, the news relating to the IOR raised great interest. After underling that the first phase of the planned reform of the Institute had concluded and the second phase had started, Cardinal Pell announced the formation of a new management team, led by Frenchman Jean-Baptiste de Franssu, a member of the Council for the Economy. He also announced the creation of two new committees, one will study the redesign of the Vatican media and the other the pension fund.




St. Peter’s Square

Oct. 14, 2019