Brazil – Rio mayor insists Olympics will weather Brazil crisis

Brazil - Rio mayor insists Olympics will weather Brazil crisis– The mayor of 2016 Olympic host city Rio de Janeiro insisted authorities had the finances to stage a successful Games despite Brazil’s recession. “We have enough money to make sure everything is presented as it is supposed to be, as you can see here,” Mayor Eduardo Paes told reporters, after unveiling an Olympic basketball court. The International Monetary Fund expects Brazil will stay in recession in 2016 and the World Bank has forecast a 2.5 percent contraction this year.

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