The move, which raises the voting share of those four nations, aims to boost the credibility of the IMF, which six decades after its founding is facing criticism for giving the United States and other Western powers too much influence.

The proposal won 90.6 percent of the total vote, the IMF said. It needed 85 percent to pass.

Voting shares affect member countries' say in the decisions of the Washington, D.C.-based institution and how much they can borrow from it. The IMF works to promote global economic stability and provide emergency loans to members in crisis -- akin to a financial firefighter.

In a second step, the IMF will overhaul the voting structure of member nations within two years to give developing nations a greater voice.

The Japan Times Weekly: Sept. 23, 2006
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