The AIBA said it has implemented a significant number of changes to its policies to improve accountability and fiscal responsibility

The International Boxing Association (AIBA) says it no longer faces the fear of going bankrupt after having restored a "healthy and sustainable financial situation", which was among the tasks mandated by the IOC to secure the sport's Olympic future.

The AIBA's finances were a cause of concern for the International Olympic Committee (IOC), which is still to take a final call on whether to retain boxing in the 2020 Tokyo Games.

The AIBA said it has implemented a significant number of changes to its policies to improve accountability and fiscal responsibility.

"AIBA has come a long way in getting over this financial crisis...The fear of going bankrupt due to financial mismanagement is now far behind us," AIBA President Gafur Rakhimov said.

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