LAUSANNE - The International Olympic Committee (IOC) Tuesday said there is "no need for any drastic decisions" regarding this year's Olympic and Paralympic Games, despite growing concern over the impact of the COVID-19 pandemic.

The IOC made a statement after its executive board held a teleconference with international federations on how to deal with the emergency.

"The IOC remains fully committed to the Olympic Games Tokyo 2020, and, with more than four months to go before the Games, there is no need for any drastic decisions at this stage; and any speculation at this moment would be counter-productive," the IOC said in a statement.

"The health and well-being of all those involved in the preparations for the Olympic Games Tokyo 2020 is our number-one concern. All measures are being taken to safeguard the safety and interests of athletes, coaches and support teams. We are an Olympic community; we support one another in good times and in difficult times. This Olympic solidarity defines us as a community," IOC President Thomas Bach said.

The IOC admitted that the situation around the COVID-19 virus is impacting the preparations for the Tokyo Games, but it still "encourages all athletes to continue to prepare for the Olympic Games Tokyo 2020 as best as they can".

"The IOC's decision will not be determined by financial interests, because, thanks to its risk management policies and insurance, it will in any case be able to continue its operations and accomplish its mission to organise the Olympic Games."

The IOC also noted that 57 percent of the athletes were already qualified for the Games. For the remaining 47 percent of the berths, the IOC will work with the IFs to make any necessary and practical adaptations to their respective qualification systems for Tokyo 2020.

In the coming days, the IOC will continue its consultations with the National Olympic Committees, the athletes' representatives, the International Paralympic Committee and other stakeholders.