September 21, 2011. (Romereports.com) Benedict XVI appointed Giuseppe Versaldi as the new president of the Prefecture for Economic Affairs of the Vatican. He will take over the post recently held by cardinal Velasio de Paolis, who  left the post because of age limit restrictions.


The new secretary of this department, will now be Spanish priest, Lucio Angel Vallejo Balda.

The Prefecture for Economic Affairs, doesn't directly administer the Vatican's finances. Rather, it oversees all its activities. For example, it's in charge of checking the Holy See's balance sheets, budgets and financial audits.

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