International Economic Law (2020)

As remarked by the International Monetary Fund (IMF), 2020 was ‘A Year Like No Other’,1 with the COVID-19 pandemic producing the most significant recession since the Great Depression with an estimated contraction of the global gross domestic product of around 3.3%–3.5%.2 Relevant international economic organisations were forced to test their instruments and policies addressing disasters, particularly those dealing with health emergencies to cope with the ongoing economic and financial crisis. Organisations have taken advantage of existing tools but have also swiftly introduced some changes and adopted new initiatives in response.