Australian Cardinal George Pell named as head of Vatican finances

AUSTRALIA
ABC News

Australian Cardinal George Pell has been named head of a new Vatican department that will supervise the Holy See’s economic affairs.

In the new role, the 72-year-old currently archbishop of Sydney will be responsible for preparing the Holy See and Vatican’s annual budget, as well as financial planning and enhanced internal controls.

The new ministry is the first decisive action by Pope Francis in the wake of scandals at the Vatican bank.

“The Holy Father today announced a new coordination structure for economic and administrative affairs of the Holy See and the Vatican State,” it said in a statement.

The Vatican said the move followed recommendations made by cardinals advising the pope including for a “more formal commitment” to international standards.

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