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“We are confident we will come to an agreement and will honour our commitments,” Andrada said. He said the committee is still waiting on some money from sponsors.

Brazil’s economic crisis also coincided with the biggest corruption scandal in the country’s history, which led to the trial and conviction of some prominent business and political leaders. Among those are heads of construction companies that built projects related to the Olympics, which cost about $20 billion, as well as Sergio Cabral, Rio’s governor when it won the bid to host.

Andrada said Cabral and others jailed in Rio may be using some of the furniture from the Athletes Village after mattresses and blankets were sent to a local prison for former police officers.

“He’s probably sleeping on an Olympic mattress,” Andrada said.

The severe national recession put the Olympics in financial jeopardy even before the games started. Plans for the opening ceremony as well as hospitality infrastructure and other non-essential elements were scaled down, and last-minute emergency public funds were sought to stage the Paralympics.

Overall, organizing the games cost about $2.8 billion. The IOC paid a little more than half, much of it before it was due to help keep the committee afloat. A promise of 250 million reais from local and national governments amounted to just 90 million reais and is partly to blame for the failure to pay creditors, Andrada said.

The local organizing committee will disband in June 2017.

©2017 Bloomberg L.P.