CARDINAL Luis Antonio Tagle, prefect of the Congregation for the Evangelization of Peoples, has been appointed by Pope Francis as a member of a powerful body that acts as the Vatican’s “central bank.”
Tagle was appointed as a member of the Administration of the Patrimony of the Apostolic See (APSA), which acts as the equivalent of a treasury and also oversees real estate holdings and other sovereign assets, the Catholic Bishops’ Conference of the Philippines (CBCP) announced on Tuesday, February 24.
The office also administers payroll and operating expenses for Vatican City. It is currently headed by Italian Bishop Nunzio Galantino.
Also appointed to the body as a member is Cardinal Peter Kodwo Appiah Turkson, prefect of the Dicastery for Promoting Integral Human Development.
“APSA has around a hundred employees and collaborators, and a commission of eight cardinals who work alongside the president,” said the CBCP.
“Pope Francis has recently brought under the control of APSA the financial investments and real estate holdings owned by the Secretariat of State — the central administration of the Vatican,” it added.
Tagle has been in the Vatican since February 2020 when he was appointed as the Prefect of the Congregation for the Evangelization of Peoples, usually referred to by its historic name of Propaganda Fide.
According to Catholic News Agency, the Propaganda Fide is one of the largest curial departments, with a size and scope exceeding almost any other. It is also the most financially autonomous curial department.
As the Propaganda Fide, Tagle is tasked with the Church’s missionary works and territories.
In May 2020, Tagle was promoted by Pope Francis to the rank of cardinal-bishop, the highest position within the Church’s College of Cardinals.
He is the first Filipino to be named cardinal-bishop.
In July 2020, Tagle was named member of the Pontifical Council for Interreligious Dialogue.
He is also currently serving his second and last term as president of Caritas Internationalis, a confederation of Catholic charities around the world.