The Finances of the Vatican

Abstract

The Vatican has spread a veil of mystery, indeed secrecy, over its financial position, and only rarely have details of its finances been made public. There are a variety of reasons for this. In the first place, it does not want to lay itself open to criticism from Asian nations for spending more on African countries or vice versa. More important, as the head of the Vatican's economic services explained: 'If we say we own $500 million, the communists would react by saying: if they admit to 500, it is most likely 5,000, and why on earth does the Pope not spend his wealth on the poor of the world rather than collect a profit on his holdings and investments? Therefore, it is better to say nothing and maintain the secrecy.' This attitude provokes wild and exaggerated estimates of the Vatican's wealth from the press, aimed at convincing readers how very rich the Vatican is. There is no advantage to be gained by maintaining an attitude of secrecy and not disclosing the truth. How far has research succeeded in penetrating the veil of secrecy? There exist a few authoritative statements and figures which may serve as a starting-point. Any attempt to evaluate the Vatican's wealth, however, must obviously exclude two areas which are immeasurable: art treasures and real estate.