World Triathlon is looking into the financial impact of COVID-19 ©ITU

World Triathlon's Executive Board has created financial and communications groups to deal with the fallout of the COVID-19 crisis.

The two groups will analyse the economic impact of the pandemic and associated disruption, as well as inform stakeholders of all measures taken.

"With the situation changing by the hour in every country, it is at this moment too early to take further decisions", read a World Triathlon statement.

"Communication will be done as soon as decisions can be made for each individual event, always putting the health and safety of all athletes, coaches, teams, officials and staff as our foremost priority."

All World Triathlon activities are currently suspended until April 30.

However, the World Cup event in Valencia - scheduled for May 2 - has been postponed as well as the Olympic mixed relay qualifying race the day before.

Hungary was set to host the World University Triathlon Championships in Kecskemét on June 27 and 28, but that event has now been cancelled as well.

Triathlon's rankings have also been frozen, but plans to host other events by the end of the season are still on the table.

There are more than 552,000 confirmed cases of COVID-19 worldwide and more than 25,000 people have passed away as a result.