China
16:08, 22-Jul-2017
Brazil struggles to pay 2016 Rio Olympics debt
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Brazil is still struggling to foot the bill of the 2016 Rio Olympic Games with organizers of the mega-sporting event asking the International Olympic Committee (IOC) to help them pay a debt estimated at 40 million US dollars according to the latest available data.
The Rio 2016 games were a success despite the challenges of corruption scandals, economic recession, and a Zika virus outbreak.
While the games were in full swing, Brazil's recession was at its peak. The games cost about 13 billion US dollars, double the original budget.
Moreover, many of the infrastructure projects built for the occasion went unused after the games wrapped. And some of the venues that were supposed to be dismantled and transformed into schools are still standing.
Though Olympic debts are the obligation of the host countries and cities, the IOC has signaled it is prepared to help if it receives more reliable and understandable information from Rio officials.
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