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?

Answer: C. Both statements about G-20 Common Framework are correct. The G-20 COMMON FRAMEWORK FOR DEBT TREATMENTS BEYOND THE DSSI was launched in November 2020 to address debt vulnerabilities of low-income countries (LICs) in the wake of COVID-19. Statement 1 is CORRECT. The Common Framework is endorsed BY THE G-20 IN COORDINATION WITH THE PARIS CLUB (the informal grouping of major bilateral creditors). It builds on the Debt Service Suspension Initiative (DSSI) and applies the principles of debt restructuring negotiated through Paris Club practices. Statement 2 is CORRECT. The Framework specifically supports LOW INCOME COUNTRIES WITH UNSUSTAINABLE DEBT, providing a case-by-case approach to debt treatment (rescheduling, debt reduction, debt swap). Eligible countries include Chad, Ethiopia, Zambia, Ghana — those who have applied for relief under it. The Framework includes both Paris Club and non-Paris Club creditors (notably China as the largest bilateral creditor to LICs). Source: G-20 documents / IMF and World Bank LIC Debt Sustainability frameworks.