TOKYO - The International Olympic Committee (IOC) on Wednesday praised Japanese organisers for slashing costs for the 2020 Tokyo Games, but warned that soaring Olympic budgets could see future bids dry up. Tokyo 2020 coordination commission chairman John Coates noted that significant progress had been made since the IOC ordered local organisers to keep costs below $20 billion but added that more needed to be done. "Apart from the fact you've got the budget down now to around $13 billion, the emphasis that you are continuing to work together to further reduce costs and optimise resources is not only important to you and taxpayers, but also very important to the IOC ," he said. "We know you can pay for the Games in a city as strong financially as yours and with the support you get."