The International Monetary Fund (IMF) has confirmed that the coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession worse than the global financial crisis a decade ago.
IMF Managing Director Kristalina Georgieva has called this development humanity's darkest hour.
Ms Georgieva spoke at a rare joint news conference with the Director of the World Health Organization on Friday.
She has called for advanced economies to step up their efforts to help emerging markets and developing countries survive the economic and health impact of the pandemic.
More than 60,000 people have now died of COVID-19 and more than 1.1 million have been infected worldwide, according to the latest figures released by Johns Hopkins University.