Brazil Declares Financial Emergency, Requests Funding For Rio Olympics

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Brasilia: The acting governor of Rio de Janeiro has declared a state of financial disaster so he has more leeway to manage the state’s scarce resources less than two months Brazil hosts the Olympic Games.

Francisco Dornelles announced the decision on Friday. The 2016 Summer Olympic Games will be held in Rio de Janeiro on Aug. 5-21.

The move will allow Dornelles to adopt exceptional measures to pay costs related to the Games as the state grapples with the country’s economic recession.

 

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