Durban won the rights to host the games in September 2015 after Edmonton withdrew its bid.
The Commonwealth Games was in danger on Tuesday night of being left without a host in 2022 after Durban warned it could be forced to surrender the event.
Liverpool has offered to host the 2022 Commonwealth Games after hosts Durban admitted it might not be able to afford it.
"There's a possibility that the Commonwealth Games will be out of the window", said Mbalula.
South Africa's sports minister Fikile Mbalula has been quoted as saying that the city is unable to stage the tournament due to financial constraints.
He said a final decision would be made by the Commonwealth Games Federation.
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So why is there reason for hope? "Some bad things have happened in the United States", Ginsburg said. It is the pendulum. "When the pendulum swings too far in one direction it will go back", she said.
"Here in Birmingham we are producing a feasibility study on what would be needed for a 2026 games in the city".
Speaking at a Cape Town press conference on Tuesday‚ Mbalula said: "I don't want to raise your expectations and say everything looks good‚ it doesn't".
It is estimated that Durban would have to pay 8.2 billion rand (£507.2 million/$630.1 million/€594.6 million) to host the event.
In December, South African officials had said the country was "fully committed" to hosting the event.
The Commonwealth Games, first staged in 1930, are a multi-sport event held every four years featuring athletes from over 50 countries, mostly former British colonies.
"A final recommendation will be referred to the CGF Executive Board once the review team has completed its deliberations".