The World Bank on Tuesday downgraded its outlook for the global economy and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed.

World Bank warns global recovery could erode if virus worsens

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

Global economy will take $12 trillion hit from COVID-19: International Monetary Fund

Watch in Today Tonight: Pandemic Coronavirus (COVID-19) crisis tears apart world economies. Experts warn of global recession as well.

Today Tonight: COVID-19 crisis tears apart world economies