With reference to the G20’s Common Framework for Debt Treatments, consider the following statements:1.Under the framework, rich and developing countries are provided a platform to discuss the need and negotiate the amount required for climate financing.2.The International Monetary Fund (IMF) and the World Bank play crucial roles in supporting the implementation of the Common Framework.Select the correct answer from the codes given below:

Q. With reference to the G20’s Common Framework for Debt Treatments, consider the following statements:
1.Under the framework, rich and developing countries are provided a platform to discuss the need and negotiate the amount required for climate financing.
2.The International Monetary Fund (IMF) and the World Bank play crucial roles in supporting the implementation of the Common Framework.
Select the correct answer from the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. The G20 Common Framework provides a platform for creditor countries, including both official bilateral creditors and private sector creditors, to coordinate and collaborate on debt relief efforts. Its primary objective is to facilitate the implementation of timely, orderly, and sustainable debt treatments for eligible countries.

Statement 2 is correct. The International Monetary Fund (IMF) and the World Bank play crucial roles in supporting the implementation of the G20 Common Framework.

Source: NDTV

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