Just seven weeks before the opening ceremony of the Olympics, the governor of Rio de Janeiro has declared a "state of calamity." He says the state's government is bankrupt.

RIO DE JANEIRO (Reuters) - Rio de Janeiro’s governor declared a state of financial emergency Friday and requested federal funds to help fulfill obligations for public services during the ...

The state government in Rio de Janeiro declared a financial “state of public calamity" on Friday, weeks before the Olympic Games begin. The government issued a warning decree on Friday.

Rio is seeking out funding to help with upcoming Summer Olympics after declaring a financial emergency.

The Rio Olympics were a financial disaster and it keeps getting worse. By Scott Davis. 2017-06-15T16:26:00Z Share. Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link. An ...

Olympic host cities cover their costs with sponsorships, among other things, and the organizers of the Rio 2016 games learned two big lessons the hard way. One: Start early, before the economy has ...