Rajeesh Kumar replies: The Group of Twenty (G20) is an informal grouping of the world's largest 20 economies. It accounts for nearly 80 per cent of the world GDP, 75 per cent of global trade, and 60 per cent of the world population and has become one of the most prominent multilateral groupings in contemporary global politics. India took over the G20 Presidency from Indonesia on 01 December 2022. 

Rajeesh Kumar replies: A sovereign default occurs when a country fails to pay back its loan to domestic or international creditors. The International Monetary Fund (IMF) defines default as a breach of contract or broken promise. The most immediate impact of sovereign default is that borrowing cost rises for the government in the domestic and international bond market. The higher interest will impact the entire economy of the country, including the value of currency, banking system, stock market, corporate borrowing, etc.

Shruti Pandalai replies: Globalisation, many would argue, is facing a backlash in the current global order in the aftermath of the Ukraine crisis as it amplified shifts already underway both due to the US–China split and the post-pandemic rewiring of economics and trade. Realignments and increasing focus among countries to look inwards, reshoring and building capacities to source and manufacture domestically and with trusted partners, have become an emerging trend.