VATICAN CITY
Vatican Information Service
Vatican City, 9 July 2014 (VIS) – This morning in the Holy See Press Office a press conference was held to present the new economic plan for the Holy See. The speakers were Cardinal George Pell, prefect of the Secretariat for the Economy, Joseph F. X. Zahra and Jean-Baptiste de Franssu, deputy coordinator and member of the Council for the Economy respectively, and Ernst von Freyberg, president of the Board of Superintendence of the Institute for the Works of Religion (IOR).
Cardinal George Pell announced new and important initiatives for improving the economic management and administration of the Holy See and Vatican City State. These changes, set in motion by the new Secretariat for the Economy, are the fruit of a detailed analysis of the conclusions and recommendations of the Pontifical Council for Reference on the Organisation of the Economic-Administrative Structure of the Holy See (COSEA), and are considered essential to face risks and weaknesses and, at the same time, to create in the future a new platform for improving economic management. All the changes were approved in the recent meetings of the Council for the Economy (5 July) and the Council of Cardinals (1-4 July), and it is expected that they will be approved by the Holy Father.
The changes relate to APSA (the Administration of the Patrimony of the Apostolic See), the Pension Fund, the Vatican media and the Institute for the Works of Religion (IOR).
The Prefect of the Secretariat of the Economy expressed his satisfaction with the fact that the Holy Father has approved these important initiatives. Both Cardinal Pell and the Council for the Economy gave thanks for the Pope’s unwavering support and contributions.
“There are many challenges to face and much work to be done”, Cardinal Pell observed. “The COSEA has recommended that various issues be faced as a matter of urgency, such as the transfer of the Ordinary Section of the APSA, the Pension Fund, the media and the IOR. The Holy Father has clearly stated that these changes must be made rapidly”.
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