CASH CRUNCH THREATENS RIO SUMMER OLYMPICS

Jun 18, 2016

By Bob Sheppard

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The summer Olympics are just around the corner, but there’s a financial crisis where the games are being held in Brazil.

Francisco Dornelles, the acting governor of the state government of Rio de Janeiro has decared a financial emergency. That’s so he can have more control over the state’s resources, which are scarce.

According to Dornelles the economic crisis is so serious that it could prevent the state from honouring its commitments to the games.

The problem has been blamed on tax shortfalls in the oil industry on top of an on-going deep recession in Brazil

The 2016 Rio Summer Olympics will run from August 5th to the 21st.

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