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Catholic World News

Early retirements at Vatican bank suggest new push for reform

June 04, 2014

Two ranking officials at the Institute for Religious Works (IOR) have been eased into early retirement, signaling a likely acceleration of reforms in the Vatican bank.

The ANSA news service reports that the two officials had worked at the IOR for years, and their departure suggests a strong push to change the management approach of the Vatican institution. The two were encouraged to take early retirement shortly after the completion of reports by two separate ad hoc committees appointed by Pope Francis to study Vatican finances in general and the functioning of the IOR in particular. The Vatican bank has also received reports from auditors and consultants suggesting a streamlining of management and strengthening of procedures to ensure accountability.


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