In Rio de Janeiro declared a financial disaster for 49 days before the Olympics

The view of the Olympic Park in Rio de Janeiro

According to British newspaper the Telegraph, the authorities of the Brazilian state declared a state of emergency due to the catastrophic financial situation. The document, which published a guide of Rio de Janeiro, indicated that in response to falling oil prices, the authorities may not fulfil their obligations before starting through the 49 days of the Olympic games.

The document States that the crisis could lead to “total collapse” in matters of security, health, education and environmental protection.

According to the state Governor Francisco dornelles the necessary hard steps to correct the financial situation. According to him, issued a decree should attract the attention of the Brazilian government, which should together with the staff to solve the issues of the metro health system and law enforcement.

In this municipality of Rio de Janeiro indicated that serious problems with the finances of the city does not, and the statement of the leadership of the state should not affect the preparations for the Olympics.

Last week, rating Agency Fitch downgraded the rating of the state of Rio de Janiero from b+ to b-, putting in a rapid loss of liquidity.