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Cardinal Tagle appointed as member of Vatican's 'central bank'

Cardinal Luis Antonio Tagle, the incumbent prefect of the Congregation for the Evangelization of Peoples, has been appointed by Pope Francis as one of two new members of the Administration of the Patrimony of the Apostolic See (APSA).

The other member, according to the Holy See Office press release, is Cardinal Peter Kodwo Appiah Turkson, the prefect of the Dicastery for Promoting Integral Human Development.

The post on the Catholic Bishops' Conference of the Philippines (CBCP) website states that the APSA is the entity that operates the Vatican’s so-called central bank or the equivalent of a treasury and also oversees real estate holdings and other sovereign assets.

Headed by Italian Bishop Nunzio Galantino, the APSA also administers payroll and operating expenses for Vatican City that has around a hundred employees and collaborators, and a commission of eight cardinals.

Recently, in implementing reforms at the Vatican City, Pope Francis placed the control of financial investments and real estate holdings owned by the Secretariat of State under the APSA.

The appointment is Tagle's second post in the Roman Curia. He has been in the Vatican since February 2020 when he assumed his post as head of Congregation for the Evangelization of Peoples or Propaganda Fide.

In May 2020, he was elevated to the order of “cardinal bishops,” the highest rank within the College of Cardinals.

By July, Tagle was named member of the Pontifical Council for Interreligious Dialogue.

The Filipino prelate is also currently serving his second and last term as president of Caritas Internationalis, a confederation of Catholic charities around the world. -- BAP, GMA News