His government faces a severe fiscal crisis of its own that cost the country its hard-won investment grade rating late last year. The finance secretary of Rio de Janeiro could be not be immediately reached for comment. BRASILIA, Brazil is considering an emergency loan to the cash-strapped state of Rio de Janeiro as it prepares to host the Olympic Games in less than two months, two senior government officials familiar with the situation told Reuters. "These loans will be backed by states' assets such as banks, utilities, gas and sanitation companies." There is no other way," said a member of the government's economic team who asked not to be named to speak freely.

Source: Standard Digital June 09, 2016 17:48 UTC