Vatican City, Oct 22, 2019 / 09:00 am
The head of the Vatican's sovereign asset management body has insisted that the Holy See is not headed for financial "collapse."
Bishop Nunzio Galantino made the comments in response to a book published on Monday by Italian journalist Gianluigi Nuzzi, which claims that the Holy See is facing a serious cash shortage, and may soon be unable to meet its ordinary operating expenses.
"There is no threat of collapse or default here. There is only the need for a spending review. And that is what we're doing. I can prove it to you with numbers," Galantino said on Oct. 22.
Galantino is head of the Administration for the Patrimony of the Apostolic See (APSA), which oversees the Vatican's real estate holdings and other sovereign assets.