STOCKHOLM, May 4 (Xinhua) -- The Swedish Academy announced Friday that it would not hand out the Nobel Prize in Literature this year.

It plans to award double prizes next year, the institute said in a press release.

The Academy said the decision was made "in view of the currently diminished Academy and the reduced public confidence in the Academy."

"We have decided not to award a prize after long and intense discussions. The global confidence is so low (in the Swedish Academy)and ... we plan to award the prize next year and hopefully then a double prize," the academy's acting chief Anders Olsson told Swedish TT News Agency.

A similar situation has occurred before, said Olsson, referring to the practice of postponing the award ceremony, usually held annually, to the next year.

The news came after a crisis which started in late 2017 when a cultural figure who had close links to the Academy was accused of sexual harassment by a number of women.

The man has also been accused of leaking the names of previous laureates.

The Swedish Economic Crime Authority has also launched a preliminary investigation into suspected financial crime within the Academy after an inquiry found it had granted payments to a cultural club formerly run by the man.

Internal disagreements in the Academy have led to the resignation of a number of Academy members. It now only has 10 active members and eight vacant seats.

According to the Academy, the selection of a Nobel literature laureate is "at an advanced stage" and will continue as usual in the months ahead.

However, it said "the Academy needs time to regain its full complement, engage a larger number of active members and regain confidence in its work, before the next Literature Prize winner is declared."