Abstract

In the past, necessity has been raised in international arbitration by Latin American respondent States, most notably Argentina, to defend measures adopted in the context of national emergencies (e.g., caused by severe economic crises). In 2020, a number of States declared national emergencies and adopted extraordinary measures to deal with the severe health and economic crisis caused by the COVID-19 pandemic. These measures, seldom confined to a specific economic sector, may be at the origin of new disputes with foreign investors. In this article, we review the historical application of ...