Hamburg - The value of the International Olympic Committee's financial investments has been reduced by around 34 million dollars, IOC president Jacques Rogge has revealed. Rogge told an interview with the insidethegames.com website Tuesday that the drop in financial markets cut 8 percent off the IOC's overall reserves of 400 million since the beginning of 2008.
"These were careful investments," said Rogge. "We were in bonds. We were a little bit in equities but not much."
Rogge added that all markets had suffered losses and while there was a potential shortfall, it was only on paper.
"We still hope to get something back," Rogge said, before adding that preparations for the 2010 Winter Games in Vancouver, 2012 London Summer Olympics and Sochi 2014 were not under threat.
"I would say, in terms of the organizing committees, we have no problem today," Rogge said.
