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SBD Global/March 24, 2014/Olympics

IOC Says 2016 Rio De Janeiro Games Face 'Crucial' Budget Meeting On Thursday

An inspection group from the IOC told organizers of the 2016 Rio de Janeiro Games that "the time for talking is over and that crucial decisions need to be made," according to Panja & Duff of BLOOMBERG. In January, Brazilian authorities said that they "would be spending" at least 5.6B reais ($2.4B) on infrastructure related to the Games. Former hurdler Nawal El Moutawakel and Gilbert Felli, the IOC’s exec director for the Olympic Games, said a Thursday meeting between officials from Brazilian President Dilma Rousseff’s office and representatives of Rio’s state and municipal government "to complete protracted discussions over responsibility for those projects is vital with the event fewer than 900 days away" (BLOOMBERG, 3/21).
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