The upcoming Olympic Games from August 5 to 21, will not be affected by the Rio de Janeiro state government's decision to declare a financial emergency, organisers said.
With less than 50 days to go until the opening ceremony at the Maracana stadium, interim governor Francisco Dornelles on Friday issued a decree that said the state faced a "public calamity", reports Xinhua.
He said public services faced "total collapse" and warned commitments for the Games might not be honored.
But Rio 2016 communications director Mario Andrada said the announcement would "not have any effect" on the Games.
"Everybody already knew that the state of Rio was out of money," Andrada said. "The government has already met all of its obligations with us."
"They haven't hidden from the fact they are having financial difficulties. They have been very transparent with us and the rest of the public," he added.
Dornelles cited falling tax revenue from the oil industry as one of the main reasons for Rio's financial crisis, which has coincided with Brazil's worst recession in decades.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
)