MEXICO CITY (AP) Mexico is withdrawing as host of the 2017 world swimming championships, citing budget shortfalls connected with the recent drop in oil prices.
In a statement Wednesday, the state-run Mexican Sports Institute said it had told FINA, swimming's world governing body, of its decision. It said it faced a fine of $5 million from FINA for pulling out.
The championships were to be held in the western city of Guadalajara.
The Sports Institute said it would need to invest $100 million to hold the championships. It said it has spent $9.5 million.
The Mexican government announced several weeks ago it would need to cut $8.4 billion from its budget. Income for the country's national budget is heavily reliant on oil exports.
The 2015 championships will be in Kazan, Russia.
