With concern mounting about the pace of progress for the 2016 Games in Rio de Janeiro, the IOC warned Brazilian organizers Tuesday that “time is ticking†and they must attack the project “with all vigor†to ensure that the first Olympics in South America are a success. Rio has not finalized its budget for the Olympics as well as the venues for several sports, including rugby, hockey and golf, and the IOC Executive Board is also concerned  about the state of the country’s economy with new figures showing lower than expected growth. Read for instance The Star, Yahoo! Sport and the Los Angeles Times, via SCAQ Blog
