UPSC Prelims 2022 · Question 4 of 98

UPSC Prelims 2022 question on G20 Common Framework

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
Show answer

Answer: C. Both 1 and 2

Verdict

Correct statements: Both 1 and 2 → Option (c).

Statement by statement

Statement 1 – CORRECT: The Common Framework for debt treatment beyond the DSSI is an initiative endorsed by the G20, together with the Paris Club, to support low income countries with unsustainable debt in a structural manner.

Statement 2 – CORRECT: It is a way to temporarily ease the financing constraints for low income countries with unsustainable debt and free up scarce money that they can instead use to mitigate the human and economic impact of the COVID-19 crisis.

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