They admit though, that the situation is fluid, and that their decision could change given the rapid spread of the virus, and the severe travel restrictions in place in a number of countries.
Currently, the tournament is scheduled to begin in October, with matches played at6 seven venues across the country, culminating in a final at the iconic Melbourne Cricket Ground (MCG). The West Indies are the defending champions, having won the trophy in India four years ago, when they beat England in a dramatic final.
Authorities in Australia are hoping to build on the highly successful female version of the same tournament which was earlier this year, with the final between Australia and India attracting more than 85,000 spectators.
Cricket Australias optimism about the tournament is in spite of the fact that the rest of the domestic season in the country, including the final of the Sheffield Shield, has been cancelled because of growing concerns over the threat posed by the virus.
In response the Australian government has now banned mass gatherings all outdoor events with more than 500 people attending are banned, whilst the limit for indoor meetings is just 100.
The recent ODI series with New Zealand, the first match of which was played behind closed doors in Sydney, was cancelled, and the Kiwi players have all gone into self-isolation after returning home.
To date 500 people in Australia have contracted the disease, and there have been six reported fatalities, although those numbers are now expected to increase.
As well as the World Cup, Australia are due to host both India and Afghanistan for test series later this year, and Cricket Australia are hoping to announce dates for those tours early next month.
The news though comes at a time when all cricketing activity across the world is being shut down. South Africa is the latest country to suspend all cricket activity in the country, whilst the English and Wales Cricket Board (ECB) are already talking about rescheduling their entire domestic season.