Eight months before the start of the Rio Olympics, I wrote a post entitled: “Brazil’s Olympian Challenge: Everything.”
Unemployment in Brazil was 10%. Inflation was 10%. Brazil’s credit rating was junk status. The currency had devalued by a third at that point in December 2015.
Guanabara Bay, where the boat competitions would take place, was getting horrific PR due to pictures displaying the filthiest waters you’d never want to wade through.
The president of Brazil, Dilma Rouseff, was in the process of being deposed for corruption, as news of the biggest corruption investigation in Brazilian history was splashed across the news headlines on a daily basis.
And I wrote all that even before the Zika Virus became a thing.
A year later, not all that much has improved in Rio de Janeiro.
As this good AP summary of Rio a year later states, you could say there was some good to come out of the Rio Olympics.
The Olympics left behind a new subway line extension, high-speed bus service and an urban jewel: a renovated port area filled with food stands, musicians and safe street life in a city rife with crime. These probably would not have been built without the prestige of the Olympics. But the games also imposed deadlines and drove up the price. A state auditor’s report said the $3-billion subway was overbilled by 25 per cent.
But generally, the bad according to that article outweighed the good.
- The Olympics left a half-dozen vacant sports arenas in the Olympic Park and 3,600 empty apartments in the boarded-up Olympic Village. Deodoro, a major complex of venues in the impoverished north, is shuttered behind iron gates.
- A $20-million golf course is struggling to find players and financing. A few dozen were on the course on a recent, sunny Saturday. The clubhouse is mostly unfurnished, and it costs non-Brazilians 560 reals ($180) for 18 holes and a cart.
- Since the Olympics, the bankrupt state of Rio de Janeiro has ceased major efforts to clean the bay, its unwelcome stench often drifting along the highway from the international airport. “I think it’s gotten worse,” Brazil’s gold-medal sailor Kahena Kunze said in a recent interview. “There was always floating trash, but I see more and more. It’s no use hiding the trash because it comes back. I figured it would get worse because I haven’t seen anything concrete being done.”
- Some of the politicians behind the Olympics have been accused of graft, and organizers still owe creditors about $30 million to 40 million. Former President Luiz Inacio Lula da Silva, who wept when Rio was awarded the games, was convicted last month on corruption charges and faces a 9 1/2-year prison term. He is appealing. Former Rio de Janeiro Mayor Eduardo Paes , the local moving force behind the Olympics, is being investigated for allegedly accepting at least 15 million reals ($5 million) in payments to facilitate construction projects tied to the games. He denies wrongdoing.
The Rio Olympic organizers are still struggling under the weight of an approximate USD40 million debt. When the organizers appealed to the IOC for relief, the IOC replied no, saying “it had already contributed a record $1.53 billion to the Rio Olympics.
Fortunately, the Brazilian government was able to find more sympathetic ears in the British government. It was announced on August 1, 2017 that the British government would donate GBP80 million (over USD100 million) to Brazil, the ninth largest economy, to help “reduce poverty and fund economic development.”
Of course, it’s not all bad news.
At least Ryan Lochte, the American swimmer who lied about being robbed at gunpoint at a Rio gas station, was actually cleared last month of charges that he falsely communicated a crime to authorities.
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