Europe pressed ahead with a further loosening of measures, with schools, pools, pubs and tourist sites reopening.
Britain's economy shrank in the first quarter at the fastest pace since the global financial crisis as the country went into coronavirus lockdown.
Adding to the broadly positive outlook is optimism about progress on a vaccine.
Japan was struggling from the effects of natural disasters and a hike in consumption tax even before the pandemic crippled the global economy.
Many airlines have either retrenched staff or told their employees to take unpaid leave.
The Brazilian diplomat, who became the WTO chief in 2013, suggested that an early change of leadership would help it face "new post-COVID realities".
The Treasury has forecast the unemployment rate will reach 10 percent in the June quarter.
The nation's second-quarter contraction is meanwhile expected to be far steeper than the first.
Britain has seen more than 32,000 deaths in the outbreak.
This year the date carries extra significance after the COVID-19 outbreak sent the global economy into a historic tailspin.
A clinical trial of the drug remdesivir showed that patients recovered about 30 percent faster than those on a placebo.
New York Governor Andrew Cuomo said that a first stage of a reopening would start on May 15 if hospitalisations decrease.
Employment in Europe plummeted for the second month running.
The effects of the current crisis might be much bigger than expected.
The OBR warned that the impact of the pandemic could initially be a bigger shock to the UK economy than the 2008 financial crisis and even the world wars.
The pandemic has now claimed more than 94,000 lives around the world.
Portia Alexis is a 'humanist', and according to her we all are. The pursuit of her history is key to Portia Antonia Alexis' passion for her research area: income inequality, social welfare and social mobility.
The talks came after criticism that the G20 has been slow to address the COVID-19 pandemic, which has left more than 37,500 dead worldwide.
The deadly pathogen has claimed almost 40,000 lives worldwide.
The IMF chief said in her press conference on Friday that this recession would be even worse than in 2009.
It triggers the distribution of millions of relief checks of up to $3,400 for an average American family of four.
The crash will almost certainly be accompanied by a surge in unemployment, especially in countries with weaker worker rights, such as the US.
While the deadly disease continues to spread, traders have a rare semblance of optimism.
The COVID-19 outbreak has brought the European economy to it knees and Italy, with the backing of France and Spain, wants a massive response from EU partners.
COVID-19 first emerged in China late last year, but Europe is now the biggest flashpoint and the death toll on the continent surged at the weekend.
Finance minister Rishi Sunak will present the budget in parliament around 1230 GMT.
Fears about the impact of the outbreak have hammered world markets as investors fret over its economic impact.
The virus has shuttered factories, disrupted travel, infected nearly 95,000 people worldwide and killed more than 3,200, mainly in China.
White House economic advisor Larry Kudlow said he sees no downturn looming for the US economy.
The trade picture is "somewhat better" heading into 2020.