OECD warns world leaders about 'precarious' global economy hit by coronavirus

The OECD has told world leaders they can’t sit back and let the coronavirus ravage their economies, warning that the world is in “its most precarious position since the global financial crisis”.

In a sign not seen since the 2008 banking collapse, the IMF and World Bank issued a joint statement saying they stood ready to help the world’s poorest nations, as the “human tragedy and economic challenge” of the Covid-19 virus take hold.