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“Political Economy Analysis for Health Financing: A ‘How to’ Guide,” published by the World Health Organization, provides a structured approach to analyse key political economy factors impacting health financing reform. This guide emphasises the importance of political economy in shaping health financing trajectories, offering a stepwise process for analysis rather than a comprehensive toolbox. By understanding stakeholders’ power, interests, and positions, and the institutions influencing the bargaining process, reformers can develop strategies to manage resistance and support. The guide aims to help reformers anticipate and strategise the reform process to increase the likelihood of effective design, adoption, and implementation, ultimately progressing towards universal health coverage.