Pope Francis created the Council for the Economy on 24 February 2014, with the Apostolic Letter Fidelis dispensator et prudens.
The Council’s task is to supervise the economic management of the structures, along with the administrative and financial activities, of the Dicasteries of the Roman Curia, as well as the Institutions connected with the Holy See and Vatican City State.
The Council is composed of fifteen Members, eight of whom are chosen from among Cardinals and Bishops, so as to reflect the universality of the Church. The other seven are experts of various nationalities, with financial expertise and recognized professional credentials.
Cardinal Reinhard Marx, Archbishop of Munich and Freising, will remain as coordinator of the Council for the Economy. Cardinal Wilfrid Fox Napier, Archbishop of Durban, will also stay on as a Member until his 80th birthday.
On Thursday, Pope Francis appointed the following Cardinals: Péter Erdő, Archbishop of Esztergom-Budapest; Odilo Pedro Scherer, Archbishop of São Paulo; Gérald Cyprien Lacroix, Archbishop of Québec; Joseph William Tobin, Archbishop of Newark; Anders Arborelius, Bishop of Stockholm; and Giuseppe Petrocchi, Archbishop of L’Aquila.
He also appointed the following lay people to the Council: Charlotte Kreuter-Kirchhof, Eva Castillo Sanz, Leslie Jane Ferrar, Marija Kolak, Alberto Minali, María Concepción Osákar Garaicoechea, and Ruth Maria Kelly.
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