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Vatican finances, choosing the international option

By Andrea Gagliarducci On 9 giugno 2014 · 2 Comments · In Vatican

The members of the board of the Financial Information Authority (AIF), the Vatican’s financial watchdog, hailed all from Italy. Taking a decision which shows his wish to give the Holy See an international profile, Pope Francis replaced them all with international experts held in high regard. Among them, there is just one Italian, [...]

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From external consultants to consultants from within. Is Pope Francis becoming “institutional”?

By Andrea Gagliarducci On 3 febbraio 2014 · 2 Comments · In Vatican

Pope Francis is seemingly putting on a new hat, an institutional one. At a time when conclusions are being drawn from the reform process started under Benedict XVI and continued by his successor, Pope Francis is counterbalancing the weight of external consultants who, one way or another, have featured prominently during the first months [...]

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Progress in the Vatican’s financial transparency comes from a revolution started long time ago

By Andrea Gagliarducci On 16 dicembre 2013 · Leave a Comment · In Vatican

The Holy See path to adapt its legal system to international anti-money laundering standards has been quick, coherent and convincing, according to the «progress report» issued by the Council of Europe’s committee MONEYVAL on December 12.

«It is clear from this review – the report states in par. 128 – that much work [...]

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Pope Francis Reshapes His Revolution

By Andrea Gagliarducci On 2 dicembre 2013 · 7 Comments · In Vatican

The Church according to Pope Francis is outlined in the nearly 260 page-long Apostolic Exhortation «Evangelii Gaudium»  (The Joy of the Gospel), that he wrote in two weeks in Spanish (with some neologisms and slogans) with a clear core message: the Church must come out, to the streets, and announce the Gospel [...]

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Vatican Finances.External Consultants and Conflicts of Interest

By Andrea Gagliarducci On 25 novembre 2013 · 1 Comment · In Vatican finances

The new statute of the Vatican Financial Information Authority (AIF) better aligns the Authority with new Vatican legislation, and with international standards. It also develops a new kind of Authority. Conceived by the drafter of the first Vatican money laundering law as a sort of «monocratic» authority (a Vatican dicastery presided by a [...]

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Vatican finances under the microscope

By Andrea Gagliarducci On 27 maggio 2013 · 1 Comment · In Vatican

A screening of the IOR accounts is “ongoing”, according to René Bruelhart, director of the Vatican Authority for Financial Information (AIF). Bruelhart also underlines that a reform of the oversight on Vatican finances is in process as well. One of the pillars of this reform will be preventive supervision – as requested by the [...]

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Vatican finances, the IOR will publish its balance sheet

By Andrea Gagliarducci On 19 maggio 2013 · 1 Comment · In Vatican finances

How much money is there in the so-called «Vatican bank», the Institute for Religious Works (IOR) and how is it invested and used? Soon, this information will be in the public domain. The IOR will have an internet website, where its annual balance sheet will be posted. Although the IOR is a [...]

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Benedict XVI wants to leave the house in good order

By Andrea Gagliarducci On 25 febbraio 2013 · 1 Comment · In Benedict XVI

Benedict XVI will be like a Moses for the Church. Moses went to a mountain and interceded for the People of Israel while the latter were combating against Amalek.  So will the Pope do after his retirement – the President of Pontifical Council for Culture, Card. Gianfranco Ravasi, said in a Lent meditation [...]

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The Vatican is steadily becoming more and more transparent. Proof of it is the appointment of an international expert to head its Authority for Financial Information.

By Andrea Gagliarducci On 12 novembre 2012 · Leave a Comment · In Holy See

René Bruelhart is the new director of the Authority for Financial Information (AIF).  It is a significant appointment –it shows that the Holy See is moving towards full adherence to international transparency standards.  MONEYVAL’s Plenary Assembly – the body of the Council of Europe that evaluates if its member states are meeting [...]

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Vatican Financial Transparency. The path to the milestone Moneyval report

By Andrea Gagliarducci On 23 luglio 2012 · 1 Comment · In Holy See

In order to understand the path the Holy See began and is staying on to achieve full -international financial transparency, one should look beyond the seven negative ratings (out of 16 core and key recommendations to combat money laundering) and beyond the 23 negative ratings on the general recommendations (out of 45, [...]

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