International Monetary Fund chief Kristalina Georgieva said on Friday that the global economy has already entered a recession because of the coronavirus crisis that has killed some 27,000 people worldwide.

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, Georgieva said during an online press briefing.

“A key concern about a long-lasting impact of the sudden stop of the world economy is the risk of a wave of bankruptcies a...