UN Secretary-General Antonio Guterres noted that the COVID-19 is the greatest challenge to the world since World War II, BBC News reported.
According to him, the current situation may lead to a recession "that probably has no parallel in the recent past".
"Covid-19 is the greatest test that we have faced together since the formation of the United Nations," he said, calling for "an immediate co-ordinated health response to suppress transmission and end the pandemic”.
Guterres called on industrial countries to help less developed states or those countries that potentially "face the nightmare of the disease spreading like wildfire".
According to the UN, 25 million people may lose their jobs worldwide as a result of the pandemic crisis.
The organization also predicts a 40% decline in foreign investment flows.