Pope Francis removes financial authority from Vatican’s Secretariat of State

Pope Francis is removing the ability of the Vatican’s Secretariat of State to administer its own financial portfolio.

This follows a major shake-up of authority among Vatican offices after a series of financial scandals that included the unusual resignation of a cardinal in September.

In an Aug. 25 letter, made public by the Vatican Nov. 5, Francis informed Cardinal Pietro Parolin, the prefect of the secretariat, that he shall transfer management and administration of all its funds to the office in charge of administering properties owned by the Vatican.

That office, known as the Administration of the Patrimony of the Holy See (APSA), is also directed to disinvest “as soon as possible” from the Vatican’s controversial part in a development project in London.

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