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The G20 nations, during the G20 summit held in Pittsburgh, US, have agreed that the developing nations like India, Brazil and China will now have more voice at the decisions taken at the International Monetary Fund, as the voting power of these nations will be increased by a minimum of 5%.
"We are committed to a shift in IMF quota share to dynamic emerging markets and developing countries by at least five percent from over-represented countries to under-represented countries using the current quota formula," G20 leaders said here in a statement.
"Today we have delivered on our promise to contribute over $500 billion to a renewed and expanded IMF New Arrangements to Borrow (NAB)," the leaders said in the statement which was issued after a two-day G20 summit held in Pittsburgh, the US state of Pennsylvania.
