UPSC Previous Year Question | Prelims GS | 2022

With reference to the "G20 Common Framework", consider the following statements: 1. It is an initiative endorsed by the G20 together with the Paris Club. 2. It is an initiative to support Low Income Countries with unsustainable debt. Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

Answer

Correct Answer

Both 1 and 2

Explanation

The G20 Common Framework for Debt Treatments (2020) is an initiative endorsed jointly by the G20 and the Paris Club to support, on a case-by-case basis, Low Income Countries facing unsustainable debt.

Topics: economy, g20 common framework, low income country debt, public debt