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[...]the G20 countries should empower the International Monetary Fund (IMF) and multilateral development banks to increase the scale of financing and debt relief. To achieve meaningful results in 2021, COVAX should have guaranteed funds in 2021 of US$20–40 billion, which it would turn into firm agreements on expanded vaccine production. [...]members of the Developing Countries Vaccine Manufacturers Network should be engaged with the efforts of COVAX to produce low-cost vaccines at scale. If LMICs run deficits and open-market operations equivalent as a share of gross domestic product to those in the USA and Europe, most LMICs would incur steeply rising interest rates, depreciating currencies, and high inflation. [...]while HICs are running huge budget deficits,26 the poorest countries are reducing investment spending to make room for urgent social spending.27 Even worse, many of the poorest countries cannot cover the costs of urgent social needs.