UPSC CSE Prelims
G20 Previous Year Questions (PYQs)
Practice solved questions for G20 with detailed step-by-step solutions, key insights, and trend analysis for UPSC CSE PRELIMS.
Solved Previous Year Questions
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Consider the following statements about G-20:
- The G-20 group was originally established as a platform for the Finance Ministers and Central Bank Governors to discuss the international economic and financial issues.
- Digital public infrastructure is one of India's G-20 priorities.
Which of the statements given above is/are correct?
Detailed Explanation:
Answer: Option 3 — Both 1 and 2
Both statements about the G-20 are correct. The G-20 was indeed established in 1999 as a forum for Finance Ministers and Central Bank Governors to discuss international economic and financial stability. India's 2023 G-20 presidency prioritized digital public infrastructure (DPI) as a key deliverable, emphasizing its role in inclusive growth and development.
✅ Statement 1 – Correct: The G-20 was originally established in 1999 as a platform for Finance Ministers and Central Bank Governors to discuss international economic and financial issues following the Asian financial crisis.
✅ Statement 2 – Correct: Digital public infrastructure was one of India's key priorities during its 2023 G-20 presidency, focusing on leveraging DPI for inclusive development and bridging the digital divide.
📝 Short Notes: G-20
- Formation: Established in 1999 as a forum for Finance Ministers and Central Bank Governors after the Asian financial crisis
- First Leaders' Summit: Held in 2008 in Washington D.C. in response to the global financial crisis
- Membership: 19 countries plus the European Union and African Union (added in 2023)
- Purpose: Discusses major issues related to global economy, financial stability, climate change, and sustainable development
- India's 2023 Presidency Priorities: Digital public infrastructure, green development, women-led development, and inclusion
- Representation: G-20 members represent about 85% of global GDP, 75% of global trade, and two-thirds of the world population
With reference to the "G20 Common Framework", consider the following statements:
- It is an initiative endorsed by the G20 together with the Paris Club.
- It is an initiative to support Low Income Countries with unsustainable debt.
Which of the statements given above is/are correct ?
Detailed Explanation:
Answer: Option 3 — Both 1 and 2
The G20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative (DSSI) was established in November 2020 as a coordinated mechanism to address unsustainable debt in Low Income Countries. It represents a joint effort by the G20 and Paris Club creditors to provide comprehensive debt treatment solutions.
✅ Statement 1 – Correct: The G20 Common Framework is indeed an initiative endorsed by the G20 together with the Paris Club, creating a coordinated approach among official bilateral creditors.
✅ Statement 2 – Correct: The Framework specifically targets Low Income Countries (LICs) with unsustainable debt, providing structured mechanisms for debt restructuring and relief.
📝 Short Notes: G20 Common Framework
- Launch: November 2020 during the Saudi Arabian G20 Presidency, in response to COVID-19 debt crisis
- Objective: Provide debt treatment beyond the temporary DSSI (Debt Service Suspension Initiative) for countries facing protracted debt vulnerabilities
- Participants: G20 countries and Paris Club creditors as official bilateral creditors, with expectation of comparable treatment from private creditors
- Eligibility: DSSI-eligible countries (73 Low Income Countries as per World Bank classification)
- Key Features: Case-by-case debt treatment, creditor coordination, debt sustainability analysis, and comparable treatment across all creditor types
- Implementation: Chad, Ethiopia, and Zambia were among the first countries to request treatment under this framework
In which one of the following groups are all the four countries members of G20?
Detailed Explanation:
Answer: Option 1 — Argentina, Mexico, South Africa and Turkey
The G20 is an intergovernmental forum comprising 19 countries and the European Union. Among the given options, only Option 1 lists four countries that are all members of G20: Argentina, Mexico, South Africa, and Turkey. Option 2 includes Malaysia and New Zealand (not G20 members), Option 3 includes Iran and Vietnam (not G20 members), and Option 4 includes Singapore (not a G20 member).
📝 Short Notes: G20 Membership
- Full Name: Group of Twenty (G20)
- Established: 1999 (Finance Ministers and Central Bank Governors forum); elevated to Leaders' Summit level in 2008
- Total Members: 19 countries + European Union = 20 members
- Member Countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea (Republic of Korea), Turkey, United Kingdom, United States
- Regional Member: European Union (represented by the European Commission and European Central Bank)
- Purpose: Forum for international cooperation on financial and economic issues; represents about 85% of global GDP, 75% of global trade, and two-thirds of world population
- Presidency: Rotates annually among member countries; India held the G20 Presidency in 2023
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