The former Chelsea shot-stopper was named in Belgium's squad for the Beijing games and will now miss games against Kilmarnock, Falkirk and Inverness.
"I'm delighted that Yves is getting international recognition and I would never deny a player a chance to fulfil his ambitions," he said.
"It's important for a player's development to play for his country and I have always said I want internationals at Hibs.
"We've known for some time that Yves would probably be at the Olympics and we've been looking for a back-up keeper for a while.
"It's like anything in football - you are always in danger of losing your place in the team and that could happen to Yves when he goes.
"He was injured towards the end of the season and when (Andrew) McNeil came in he played so well we couldn't let Yves back in even when he was fit.
"It's a risk you take when you're unavailable."