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. Statement 1: The "Common Framework for Debt Treatments beyond the DSSI" was indeed an initiative endorsed by the G20 Finance Ministers and Central Bank Governors in November 2020, explicitly mentioning its coordination together with the Paris Club. This statement is correct. 2. Statement 2: The primary objective of the G20 Common Framework is to provide a structured approach for addressing sovereign debt challenges faced by Low Income Countries (LICs) that were eligible for the Debt Service Suspension Initiative (DSSI), particularly those dealing with unsustainable debt situations. This statement is correct. 3. Since both statements are correct, the correct option is (C).