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Sunday, 20 December 2020 Most Presidents can expect at least a short honeymoon period. Umar Kremlev, elected last Saturday (December 12) as President of the International Boxing Association (AIBA), will have no such luxury. As explained in a recent auditor’s report, dated November 10, AIBA needs to secure almost immediate payment of some of the monies related to two 2021 boxing competitions if it is to be able to repay its debts. Should continuing as a going concern prove beyond it, the report goes on with meticulous clarity, the financial statements would have to be prepared on the basis of liquidation values and the Executive Committee would have to consider the Association as insolvent which will lead to its dissolution .

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