The Vatican finance minister has said he hopes to avoid any financial scandals with the upcoming Jubilee year, saying the plans will be subject to new Vatican procedures to ensure they follow international standards for transparency and accountability.

Cardinal George Pell outlined the Vatican's financial reforms Tuesday as he launched a book on better managing church assets — a priority for Pope Francis after years of financial scandal and mismanagement at the Holy See.

Francis announced the Jubilee year dedicated to mercy on March 13. That set off panic among local politicians, who remembered the chaos that surrounded the 2000 Jubilee, when 25 million pilgrims flocked to Rome and millions were spent on construction and renovation projects.

Pell said "we hope to avoid scandals, certainly in such a moment."