International Monetary Fund (IMF) has warned that the current crisis posed a severe recession to world economy.

IMF Chief Kristalina Georgieva said this while addressing the Development Committee Meeting during the annual Spring Meeting of the International Monetary Fund and the World Bank.

She said the world economy, already sluggish before the coronavirus outbreak, is now bound to suffer a severe recession this year.

She said a large global contraction in the first half of this year was inevitable.