U.N. chief warns global recession due to coronavirus 'a near certainty'

United Nations Secretary-General Antonio Guterres warned on Thursday that a global recession "is a near certainty" and current national responses to the coronavirus pandemic "will not address the global scale and complexity of the crisis." "This is a moment that demands coordinated, decisive, and innovative policy action from the world's leading economies," Guterres told reporters via video conference. "We are in an unprecedented situation and the normal rules no longer apply."

"A global recession – perhaps of record dimensions – is a near certainty," he said.