Vatican City, Dec 17, 2020 / 12:00 pm America/Denver (CNA).
The Council for the Economy held an online meeting this week to discuss several challenges to Vatican finances, including the city state’s pension fund.
According to a press release from the Holy See, the Dec. 15 meeting also addressed aspects of the Vatican’s budget for 2021 and a draft of statutes for a new committee to help keep Holy See investments ethical and profitable.
Cardinal George Pell, formerly the head of the Vatican’s Secretariat for the Economy, said recently that the Vatican has a “very looming and considerable” deficit in its pension fund, as do many countries in Europe.
As early as 2014, while still serving at the Vatican, Pell noted that the Holy See’s pension fund was not in good shape.
Participants in Tuesday’s virtual meeting included Cardinal Reinhard Marx, president of the Council for the Economy, and each of the council’s cardinal members. Six lay women and one layman, appointed to the council by Pope Francis in August, also took part in the assembly from their respective countries.