Pope Francis has appointed Cardinal Luis Antonio Tagle from the Philippines to another Vatican post apart from his current position as the prefect of the Congregation for the Evangelization of Peoples.
The Filipino cardinal has been appointed as a member of the Administration of the Patrimony of the Apostolic See (APSA) which manages and operates the central bank of the Vatican, according to reports from the Catholic Bishops’ Conference of the Philippines (CBCP).
APSA, currently headed by Italian Bishop Nunzio Galantino, administers the payroll and operating expenses of the Vatican City, acting as its treasury. It also oversees sovereign assets and real estate holdings.
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.
Tagle assumed his current post in February 2020. Three months after, the Holy Father elevated him to the order of “cardinal bishops,” the highest rank within the College of Cardinals.
It is from the ranks of cardinal bishops that the Dean of Cardinals is elected. The dean presides at the conclave in case of “sede vacante,” a period when there is no pope, as per reports from the Philippine News Agency.
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