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 ?

Correct Option: Both 1 and 2

The G20 Common Framework is an initiative endorsed by the G20 together with the Paris Club to coordinate and timely address debt treatments for Low Income Countries with unsustainable debt levels. It aims to deal with insolvency and protracted liquidity problems comprehensively, involving both official bilateral creditors and private creditors. Both statements 1 and 2 are correct.