Demand for metals and transport-related commodities such as rubber and platinum used for vehicle parts has also tumbled.
Every region is subject to substantial growth downgrades.
They, along with a million child asylum-seekers and 17 million displaced children, are among those most likely to be excluded from social protection, and to be negatively affected by movement restrictions that may keep them from obtaining a more secure status.
In general, relatively few cases are seen among children.
It will be key that people in all countries — not just in rich countries — receive the required protection.
Emerging market and developing economies will be buffeted by economic headwinds from multiple quarters: pressure on weak health care systems, loss of trade and tourism, dwindling remittances, subdued capital flows, and tight financial conditions amid mounting debt.