The International Monetary Fund warned governments on Sunday to prepare for a possible impending "economic storm".

This is due to slowing economic growth across the world that's undershooting expectations.

“The bottom-line — we see an economy that is growing more slowly than we had anticipated,” IMF managing director Christine Lagarde told the World Government Summit in Dubai.

Lagarde mentioned that risks were due to 4 main areas:

Trade tensions and tariff escalations, financial tightening, uncertainty related to (the) Brexit outcome, and spillover impact of a slowing down Chinese economy attribute to this.

“We have no idea how it is going to pan out and what we know is that it is already beginning to have an effect on trade, on confidence and on markets,” she said.