Missed Rio debt payment complicates Olympics metro construction

Missed debt payments by the state of Rio de Janeiro have halted the release of a loan of 1 billion reais ($294 million) from Brazil's state development bank BNDES to conclude a metro line to the Olympics venue, the state's finance secretary told Reuters on Thursday. Julio Bueno said the non-payment of debt to the Agence Française de Developpement and the Inter-American Development Bank blocked the release of the funds. A spokesperson for BNDES was not immediately available for comments.