Vatican real-estate holdings reported at near €1 billion

November 05, 2015

The Administration of the Patrimony of the Holy See (APSA), the office that supervises the Vatican’s real-estate portfolio, held assets of nearly €1 billion in 2013, according to a new book exposing Vatican financial affairs.

Avarice, by Emiliano Fittipaldi—one of two books published this week on the basis of leaked confidential documents—reports that APSA has been involved in banking activities, making sizeable loans that were not recorded in Vatican budget figures. APSA—an office that has reportedly resisted the reforms imposed on the Vatican by the Secretariat of the Economy—comes under criticism in Fittipaldi’s book for allegedly mismanagement of funds and undocumented spending.

 

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Further information:

• Vatican's APSA 'held 998 mn in 2013' (ANSA)