Vatican City, 8 July 2014 (VIS) – The
Institute for the Works of Religion (Istituto per le Opere di
Religione – IOR) today released its 2013 financial statements and
gave a detailed update on the results of Phase I of the Institute's
reform. The second phase, namely the integration of the IOR into the
new economic-administrative landscape of the Vatican, will be
entrusted to a new board and executive team, operating under a new
governance structure. The costs necessary for the completion of Phase
I, and costs related to legacy investments, are reflected in the
results for 2013.
“As set out in May 2013, we have
focused on making the IOR compliant with financial regulation, safer
and more transparent, so as to create options for the Holy Father to
decide on the future of the Institute. Through this work we have lad
the ground for a new team to make the IOR a truly outstanding service
provider in Catholic finance”, said Ernst von Freyburg, president
of the Board of Superintendence. “Notwithstanding this housekeeping
effort, the IOR has delivered a creditable performance for its
customers, first and foremost the Holy See itself. In the first half
of 2014, we delivered a very positive performance that validates the
efforts of all those working at the IOR”, he added.
The full balance for 2013 can be
consulted, in English and Italian, on the IOR's website, as follows:
http://www.ior.va/Portals/0/Content/Media/PressReleases/Press%20Release_IOR_8_July-ENG.pdf
http://www.ior.va/Portals/0/Content/Media/PressReleases/Press%20Release_IOR_8_July-ITA.pdf
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