Pope Francis Implements Crucial Financial Reforms for Vatican Administration and City-State
Vatican City – Pope Francis has issued two new apostolic letters, bringing changes to the financial regulations for Vatican curial offices and the Vatican city state. These amendments aim to streamline and update existing laws while aligning them with the pope’s 2021 apostolic constitution, Praedicate evangelium, which focuses on the governance of the Roman curia. One significant change introduced by Pope Francis is the establishment of a new threshold for acts of “extraordinary administration.” These are major financial decisions that could potentially impact the stability of an institution’s assets. Previously, dioceses worldwide had their financial … Read more