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Brazil is imploding

Brazil is spiraling dramatically into chaos even as the Olympics are fast approaching in August.

An increasingly uncertain political backdrop is sparking widespread, and sometimes violent, protests. The country is in the midst of its worst recession in 25 years. A massive corruption scandal involving its biggest company has engulfed numerous executives and politicians. Add to that the deadly Zika virus, and you have a country in crisis mode.

Concerns are rising over whether Brazil will be adequately prepared for this seminal global event. The International Olympic Committee told CNNMoney Friday that it is "very closely" watching the political events unfolding.

The Summer games begin August 5 in Rio de Janeiro, and the world spotlight will turn on a nation at a crossroads.

Brazil was awarded these Olympics games in 2009, when the country's economy was booming. Now the country is battling a slew of social, economic and political challenges.

"This was going to be the coming out party for Brazil," says Paulo Sotero, director of the Brazil Institute at the Wilson Center. "This will probably be a scaled down party."

No one is saying the Olympics will be canceled. But there is the potential for more violent protests, a global travel warning ban is in effect advising pregnant women not to travel to Brazil and no one knows who will be president in August.

more http://money.cnn.com.....-olympics/