IMF: coronavirus means 2020 growth will be lower than 2019

Fund offers $50bn for affected countries as outbreak spreads to 70 of its 189 members

Coronavirus - all the latest developments

The International Monetary Fund is to offer $50bn (39bn) in emergency funding for countries hit by the coronavirus, as it warned that the spread of the disease has already pushed global growth in 2020 to below last year's levels.

The fund's managing director, Kristalina Georgieva, said an expected increase in global growth this year would now be more than wiped out by the epidemic which has reached 70 of the IMF's 189 member countries.