The International Monetary Fund has said the global economy will take a $12tn (£9.6tn) hit from the Covid-19 pandemic after slashing its already gloomy growth projections for the UK and other developed countries in 2020.

IMF Chief Economist Gita Gopinath briefs on global economy; Projects growth at -4.9% in 2020

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IMF Chief Economist Gita Gopinath briefs on global economy; Projects growth at -4.9% in 2020