It's official: Rio in cash crisis

Rio state authorities declared a 'state of public calamity' Friday over a major budget crisis in order to release emergency funds to finance the Olympic Games due to begin in August

Rio de Janeiro: Rio state authorities declared a 'state of public calamity' Friday over a major budget crisis in order to release emergency funds to finance the Olympic Games due to begin in August.

The decree authorises the state to "adopt all necessary emergency measures to ration essential public services in order for the Rio 2016 Olympic Games and Paralympic Games to take place."

"Any institutional instability would hurt the country's image," said the decree, signed by acting governor Francisco Dornelles.

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