Rio declares financial 'calamity' ahead of Olympic Games

The Olympic Games are to take place in Rio de Janeiro from August 5 to 21Rio state authorities declared a “state of public calamity” Friday over a major budget crisis in order to release emergency funds to finance the Olympic Games due to begin in August. “Any institutional instability would hurt the country’s image,” said the decree, signed by acting governor Francisco Dornelles. The August 5-21 Olympics and September 7-18 Paralympics in Rio de Janeiro will be the first to be held in South America.

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