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Given the massive uncertainty surrounding how COVID-19 will play out in terms of health outcomes as well as economic and social outcomes, policymaking is as hard as it can possibly be.
Measures that are sensible at the time they are taken may prove highly costly and ineffective in retrospect. No-regret policies are those that are worth doing now regardless of which scenario actually plays out. This note identifies key actions in an area where developing countries could be proactive: vaccine development, production, and distribution. Resources spent on these now will not be wasted in any scenario.