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IRS recognizes Vatican s steps to prevent fraud – Catholic World Report
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US bishops promote prayer octave for China
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Modernizing Vatican finances a huge task, says economy council member – Catholic World Report
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February 17, 2021
CWN Editor s Note: The Vatican’s Council for the Economy held met on February 16, to hear a presentation on the annual budget of the Holy See. The Vatican offered no further details on the budget or the Council’s deliberations. The meeting was held online, and chaired by Cardinal Reinhard Marx, the president of the Council.
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Pope’s deep-pocket friends may explain sangfroid about money woes
Pope Francis meets the Council for Inclusive Capitalism in November 2019. (Credit: Vatican Media.)
Does anyone seriously believe that the pope’s new corporate BFFs, with $10.5 trillion in assets at their disposal, couldn’t help cover a $60 million deficit in a pinch?
News Analysis
ROME – Sometimes when two apparently unrelated stories happen at the same time, the intersection offers a reminder that neither development can truly be understood without the other. Such has been the case in recent days with regard to the fairly bleak situation facing Vatican finances.
On Tuesday, the Vatican’s Council for the Economy held an online meeting to discuss not only the 2020 deficit, which is expected to be more than $60 million, in part due to coronavirus-related shortfalls but also the looming crisis in unfunded pension obligations. That conversation came just a few days after a new partnership was announced calle