The G20 started its second cycle of Presidencies under US leadership in 2026 with a streamlined, “back to basics” agenda, aimed at supporting broad-based economic growth and tackling global imbalances. This renewed focus on the G20’s core mandate contrasts with the G20’s emphasis on wider policy issues in recent years, including tourism, culture and disaster risk management. The G20’s outcomes are also evolving, with a more limited set of deliverables anticipated this year. As geopolitical and geoeconomic pressures intensify, different international fora are playing complementary roles in responding to global challenges, including to address recent disruptions to energy markets and supply chains. In this context, the G20 continues to offer a unique, Leader-driven platform that brings together major advanced and emerging economies on an equal footing. Against this backdrop, the panel will explore how the G20’s role is evolving within the wider multilateral architecture. The discussion will also look ahead to the G20 Miami Leaders’ Summit and consider how future Presidencies might build on the G20’s core strengths while adapting to the changing global landscape.