Vatican City: Doing business and staying in touch
Doing Business in Vatican City
The Vatican has three main sources of income: the Instituto per le Opere di Religione (IOR, Institute of Religious Works), voluntary contributions known as 'Peter's Pence' and the interest on the Vatican's investments. The IOR (the Vatican Bank) has attracted some controversy in recent years through the emergence of huge debts and allegations of corruption. Nonetheless, as the heart of a worldwide entity with millions of adherents, the Vatican continues to wield immense financial influence. The Vatican produces little other than religious artefacts, and its material requirements are largely met from Italian sources.