In this report, we review the timeline for COVID-19 socioeconomic impacts and governmental responses in 2020. We then use a general equilibrium model of the Costa Rican economy— Plataforma de Modelación Económico-Ambiental Integrada (Integrated Economic-Environmental Modeling, IEEM])—to model how the Costa Rican economy has been affected by the COVID-19 pandemic, how it might recover from the COVID-19 pandemic shock, and how decarbonization investment could hasten economic recovery. IEEM is a future-looking, dynamic, and computable general equilibrium framework that enables the analysis of how public policy and investment affect such indicators as value added, income and employment, wealth, and natural capital.