Brazil’s Rio state declares financial emergency

Brazil’s Rio state declares financial emergency

Brasilia, June 18 (IANS) The Brazilian state of Rio de Janeiro has declared a financial emergency less than 50 days before the Olympics.

Interim Governor Francisco Dornelles on Friday said the “serious economic crisis” threatens to stop the state from honouring commitments for the games, BBC reported.

In a decree, Dornelles said the state faced “public calamity” that could lead to a “total collapse” in public services, such as security, health and education.

He authorised “exceptional measures” to be taken ahead of the Games slated to start on August 5, that could impact “all essential public services”, but no details were given.

The state has projected a budget deficit of $5.5 billion for this year.

Interim President Michel Temer has promised significant financial help.

The governor has blamed the crisis on a tax shortfall, especially from the oil industry, while Brazil overall has faced a deep recession.

The measure could accelerate the release of federal emergency funds.

Rio state employees and pensioners are owed wages in arrears. Hospitals and police stations have been severely affected.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here