Italy has been plunged into political turmoil after the country’s President Sergio Mattarella accepted Draghi’s decision to quit and formerly dissolved Parliament.

A snap general election is set to be held in September, with Georgia Meloni, leader of the far-right Brothers of Italy party, widely tipped to succeed Draghi as Prime Minister.

Mattarella had initially refused Draghi’s resignation last week, saying it was the "last resort" only to accept it yesterday evening and call for an election to take place on September 25 to determine his replacement.

The departure of the former European Central Bank President, who earned praise for being a stabilising figure in Italy, came in response to a rebellion from the Five Star Movement.

The situation has resulted in Italy facing more political uncertainty as it looks to stage the Winter Olympics in four years’ time.

But Malagò, head of both the Organising Committee and the Italian National Olympic Committee, insisted preparations were unaffected.

"I am optimistic that those who will arrive will find a solution," said Malagò in a report by Italian newspaper la Repubblica.

"One page closes another important [one] opens for our country.

"I do not think this will cause delays in the works.

"However, it is always a duty to speak with the Government."

Last month, local politicians called for an urgent meeting with Draghi to discuss concerns about funding for the Olympics and Paralympics.

Government representatives from Milan and Cortina d’Ampezzo, co-hosts of the 2026 Winter Games, as well as from the regions of Lombardy and Veneto and provinces of Trento and Bolzano signed a letter asking for the meeting.

According to Italian newspaper Il Fatto Quotidiano, which obtained a copy of the letter, the officials claimed there was "no money" for Milan Cortina 2026 and said "there are four years left and we are worried".

The concerns came after Milan Cortina 2026 announced in April a loss of €21.2 million (£18 million/$21.6 million) for 2021.

Milan Cortina 2026 has yet to confirm any sponsorship deals, raising questions over its pledge to secure €550 million (£470 million/$560 million) from sponsors.

But Milan Cortina 2026 said it was "close" to announcing four agreements that had been "finalised".

"It is confirmed that the collection expected for the current years, despite the complexities of the economic contacts, will be equal to approximately half of the total objective assigned to sponsorships in the entire life cycle of the foundation," a statement from Milan Cortina 2026 read in the report by la Repubblica.

"With regard to the income statement, the net operating result for the first half of 2022 significantly reduces the level of the physiological loss expected in the budget.

"A result obtained thanks to constant cost control, all the more significant considering the particular nature of the business model of the Organising Committee of events such as the Olympics and Paralympics, in which costs arise immediately while most of the revenues are competed in proximity of the event."

The Games have been given a projected budget of €1.58 billion (£1.35 billion/$1.6 billion) by organisers.

The Winter Olympics are scheduled to take place between February 6 and 22 in 2026, with the Paralympic Games due to follow between March 6 and 15.