In a historic decision, the IMF has boosted the voting power of big emerging economies.

Under the deal announced on Friday, 6 percent of IMF voting shares will be transferred to emerging market countries from industrial economies. The move makes China the third leading voice next to the United States and Japan. It also lifts other large emerging powers India, Brazil and Russia into the top 10 ranks of the 187-member institution. The shift is by far the most significant in the Fund's 65-year history.