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Latin American Economy & Business - January 2016 (ISSN 1741-7430)

Brazil: Warning lights flashing on Rio Olympics

The decision to choose Rio de Janeiro as the venue for the 2016 Olympic Games was taken in 2009, when Brazil expected that its commodities-led boom would continue for years. It didn’t. With the games now only seven months away (5-21 August) commodity prices are at record lows. Brazil is struggling with a double-headed political and economic crisis with President Dilma Rousseff facing impeachment proceedings. In the most dramatic scenario she might even be replaced before the games start. The economy is expected to contract by over 3% this year – the second year of shrinkage. Will all this cause serious problems for the games? It depends who you talk to.

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