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Good morning from Washington,

The World Bank kicked off their annual meetings yesterday on a swampy Tuesday in D.C. that felt more like August than October. Despite the heat, policymakers and industry leaders are gearing up for an intense week of high-profile events, policy discussions, and networking.

We'll be bringing you daily morning briefings with insight and analysis from the meetings — including the biggest stories, emerging themes, latest data, and important conversations.

Whether you're joining in person or reading from your office, here's everything you need to know as we head into day two.

  • Smart money: Our top watchword this week is capital — possible capital increases, unpredictable capital flows, investments in human capital, you name it. In his latest piece, Devex Editor-in-Chief Raj Kumar takes a look at the future of World Bank financing.

  • MDS's pivotal moment: The multilateral development banking "system" will be in focus at the Center for Strategic and International Studies side event. Panelists will explore how to tackle global issues such as climate change, international migration, and health security during a time of deep skepticism from global powers about multilateral cooperation. These institutions are all under pressure to clarify how they offer value in a changing world.

  • Tobacco taxes: In a closed-door session, World Bank President Jim Kim, former New York City Mayor and philanthropist Michael Bloomberg, finance ministers, and policy wonks will discuss tobacco taxes. Devex Senior Correspondent Michael Igoe spoke to the Center for Global Development's William Savedoff ahead of the meeting about the World Bank's evolving position on this issue — and how countries can face down pressure from the tobacco industry and implement policy measures that could save millions of lives.

  • High-powered panels: Education experts will discuss the global "learning crisis" at the Pass or Fail: Are Countries Doing Their Education Homework? event. At the IMF's Future of Globalization event, development thought leaders including economist Angus Deaton and former World Bank chief economist Larry Summers will take the stage. We'll also hear from World Bank President Jim Kim and IMF chief Christine Lagarde at the Civil Society Townhall 2017. Check out the week's agenda for more events.

Read our full analysis of what to watch this week — and follow us on Facebook and Twitter. If you have coworkers who need to stay in the loop too, they can sign up for our daily briefings here.

The IMF's World Economic Outlook report found a direct link between a changing climate and developmental setbacks in low-income countries. Here's what needs to happen to address it.

  • This week, we're eyeing 5 major questions: whether the World Bank will get a capital increase; what the future holds for the Women Entrepreneurs Finance Initiative (AKA "the Ivanka Fund"); how multilateral institutions are managing China's rising global influence; what's in store for the World Bank's "Human Capital Project" — and funding gaps for health and education; and finally, whether the IFC's new, more collaborative "cascade" model will make the grade.

  • The IFC's new way to measure development impact is "an art as much as a science." The Anticipated Impact Measurement and Monitoring system wants to allow more informed decisions about which projects to approve based on anticipated results on poverty alleviation and market creation. This marks a change in thinking for an institution sometimes criticized for being overly focused on quantitative data and profit margins.

  • Learning new lessons can be... stressful. On Tuesday, the World Bank Inspection Panel released a new report — gifted to attendees in burlap bags alongside stress balls, USB memory drives, and pens — that detailed best practices for country offices to engage local communities through consultation, participation, and information disclosure.

The world economy is seeing the most widespread and fastest growth spurt since a temporary bounce back from the global recession in 2010, according to the World Economic Outlook, which publishes every fall. The Financial Times explores the numbers.

But IMF chief Christine Lagarde is warning that global policymakers are becoming complacent and not doing enough to prepare for the next economic downturn. The Wall Street Journal previews Lagarde's message during the annual meetings: "we should not let a good recovery go to waste."

According to the Guardian Editorial Board, her speech may fall on deaf ears. They write, "The IMF is seen as a hand-wringing liberal institution making nuanced and technical suggestions in an age of broad-brush solutions" and reference leaders who feel the IMF has already "served its purpose in the wake of the crash."

Meanwhile, World Bank President Jim Kim is expected to urge policymakers to invest in education and health, especially in light of advance in job automation. The BBC has more.

President Jim Kim: "The commitment that we made is we're going to travel together to Jordan and Lebanon, and we're going to get at least one business from the Tent [Foundation] group up and running within one year."

Chobani CEO Hamdi Ulukaya: "Done."

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