The head of the Vatican’s sovereign asset management body has insisted that the Holy See is not headed for financial “collapse.” Bishop Nunzio Galantino made the comments in response to a book published on Monday by Italian journalist Gianluigi Nuzzi, which claims that the Holy See is facing a serious cash shortage, and may soon Read more
Posts Tagged ‘Holy See finances’
Widening budget deficit at the Holy See
Thursday, September 5th, 2019
Pope Francis has ordered Vatican officials to close a widening budget deficit at the Holy See. They have to stop poorly managed spending and investments from undermining the operations of the Catholic Church’s global headquarters. The forthcoming financial statements will be the Vatican’s first to completely follow international public sector accounting standards. The Holy See’s Read more