BUENOS AIRES, Oct. 3 (Xinhua) -- Boxing could be left out of the Tokyo 2020 Olympic Games program unless the sport's international association AIBA resolves "grave" governance issues, the International Olympic Committee (IOC) said on Wednesday.

In a statement, the IOC said it would await the outcome of the AIBA's annual congress and elections in Moscow early next month.

"The Executive Board of the IOC today expressed its ongoing extreme concern with the grave situation within the International Boxing Association (AIBA) and its current governance," the ruling body said in a statement.

"These include the circumstances of the establishment of the election list and the misleading communication within the AIBA membership regarding the IOC's position."

The IOC has previously asked the AIBA to address financial and governance problems as well as anti-doping issues.

The only candidate for the upcoming presidential vote is Uzbek businessman Gafur Rahimov, who has been accused by the US authorities of having ties to organized crime. Rahimov has denied the claims.

"Such behaviour is affecting not just the reputation of AIBA and boxing but of sport in general," the IOC statement said.

"Therefore, the IOC reiterates its clear position that if the governance issues are not properly addressed to the satisfaction of the IOC at the forthcoming AIBA Congress, the existence of boxing on the Olympic program and even the recognition of AIBA as an International Federation recognised by the IOC are under threat."