Turn the Instant Pot® on. Choose the Sauté program and the Normal setting. Once it has come up to temperature, add the oil.
Add the garlic and onions and cook, stirring frequently for 3 minutes, or until they begin to soften. Add the peppers, potato, smoked paprika, chicken broth, and tomatoes.
Closed the lid and vent, set to Stew” and the temperature to Normal. Set the timer to 5 minutes.
Once the time is up, quick release the pressure according to the manufacturer’s directions to release the steam.
Open the lid and add the cod fillet, close the lid and the vent, set to Stew and the temperature to Less. Set the timer for 8 minutes.
When the time is up, quick release the pressure according to the manufacturer’s directions. Open the lid and stir in the shrimp. Close the lid for 5 minutes to allow the shrimp to heat through.
Ladle the stew into a large bowl, garnish with herbs and lemon wedge.