News – PH – Pope Francis appoints Cardinal Tagle as a member of the Vatican Central Bank


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Pope Francis has appointed two of his closest allies from the developing world, including Chief Evangelizer Cardinal Luis Antonio Tagle of the Philippines, as members of the powerful body that functions as the Vatican’s central bank

The Vatican announced on Monday the 22nd February, the appointment of Tagle and Cardinal Peter Turkson of Ghana as members of the Administration of the Heritage of the Holy See (APSA)

Tagle, former Archbishop of Manila, is Prefect of the Congregation for the Evangelization of Peoples, or Propaganda Fide, while Turkson is Prefect of the Dicastery for Promoting Integral Human Development. Both have been touted as potential successors to Francis

The APSA is the department of the Vatican that is “responsible for the management of the Holy See’s real estate and movable assets” in order to fund the Vatican’s bureaucracy

With effect from 1 On January 1st of this year, the Pope transferred ownership of the funds and bank accounts, movable and immovable assets, including interests in companies and mutual funds, previously held on behalf of the State Secretariat, to APSA ”

Veteran Vatican analyst John Allen Jr wrote in December 2020: “Indeed, Francis has taken the power of the purse from the Secretariat of State, traditionally the Vatican’s 800 pound gorilla, and transferred it to the management of the inheritance of the Apostolic See (APSA), the central bank of the Vatican”

The APSA has traditionally been a big part of the Vatican’s financial crisis, explained Allen “Everyone in Italy knows that the dirty money goes to Switzerland in the north of this country, Sicily in the south and APSA in the middle” an Italian lay economist Allen tells “APSA is the real problem”

The Pope has appointed Tagle, often referred to as “Asiatic Francis,” to important posts in the Vatican – including his position as Prefect of Propaganda Fide to spread the Catholic faith around the world. Tagle is also President of Caritas Internationalis

In May 2020, the first Jesuit Pope also broke the tradition of raising Tagle to the rank of “Cardinal Bishop”, making him the highest Filipino bishop in history – Rapplercom

Paterno R Esmaquel II, Rappler News Editor, specializes in Religion and Foreign Policy.He received his MA in Journalism from Ateneo and later completed an MSc in Asian Studies (Religions in Multiple Societies) from RSIS in Singapore for any ideas or feedback on stories, send him to him an email to patesmaquel @ rapplercom

Vatican City, Pope Francis, Catholic Church, Luis Antonio Tagle, Cardinal, Robert Sarah, Caritas Internationalis, Pontifical Council Cor Unum, Management of the Heritage of the Apostolic See

News – PH – Pope Francis appoints Cardinal Tagle as a member of the Vatican Central Bank
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