The International Monetary Fund and the World Bank are considering either scaling back their Spring Meetings planned for April or holding them via teleconference amid growing concerns of the coronavirus, according to Reuters.

The Spring Meetings are planned for April 17 through April 19 and are set to host 10,000 people from across the globe at their headquarters in downtown Washington, D.C.

As the virus grows in scope, the global economy has declined, particularly in China, where the virus originated. However, the virus has spread to Europe as well, with 447 cases confirmed in Italy alone as of Wednesday evening.

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The officials who spoke to Reuters noted that talks about the meetings are preliminary and will involve testing to see if they could be held virtually. Though specific officials spoke to Reuters under the condition of anonymity, the two entities also issued a joint statement to the wire service.

"The question of arrangements for the Spring Meetings is one on which Bank and Fund have been coordinating with our respective Corporate Secretariats, which are our primary liaisons with shareholders," the statement read. "We anticipate a decision on the scale and scope of Spring Meetings will be made in the coming days."

As Reuters noted, the World Bank previously canceled its meetings after the Sept. 11, 2001 attacks on New York and Washington.