The International Boxing Association (AIBA) has paid off all of their debts and is implementing the recommendations of the International Olympic Committee (IOC).

This information was indicated to TASS by the General Secretary of the Boxing Federation of Russia, Umar Kremlin, who is also a member of the Executive Committee of the AIBA.

Earlier, the IOC announced that the AIBA recovery process could only begin after the Olympic Games in 2021. AIBA's debts had amounted to $16 million.

"The AIBA has no debts as of today. The AIBA does not need to look at the IOC, it needs to do its own business. The AIBA is an independent organization, it is necessary to implement all the recommendations faster," Kremlev said.

On November 30, 2018, the IOC froze the plans for a boxing tournament at the 2020 Olympics. The decision was made after the start of the investigation into the AIBA, responsible for the qualification tournaments for the Olympic Games.

In May 2019, the IOC decided to keep the boxing tournament at the Olympics. However, and at the same time, the AIBA was deprived of their status in running the competitions, as it could not comply with the IOC requirements related to finance, management, judging and ethics.

Luke Furman covers boxing for