Pope Francis Announces New Vatican Economic Affairs Department
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Buda Mendes/Getty Images(VATICAN CITY) — Pope Francis has announced the Vatican is setting up a new economic affairs department.
The move comes out of the advisory council of eight cardinals the pope set up last fall. It’s part of the pope’s drive to reform the scandal-plagued finances and administration of the Vatican.
The new Secretariat for the Economy, as it’s called, will be headed by Australian Cardinal George Pell, the archbishop of Sydney. The pope also announced he will soon name an auditor to oversee Vatican finances.
The previous economic department that took care of the Vatican’s financial and real estate holdings will now take on the role of Vatican’s central bank.
The next area within the Vatican up for an overhaul is its media departments. Outside consultants are now working on a report on how to improve Vatican external communication.
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