http://news.bbc.co.uk/2/hi/business/5358520.stm

China, South Korea, Mexico, and Turkey will all benefit from these reforms, which include an increase of voting power. Currently, China has fewer votes than either Belgium or the Netherlands (even though its economy is twice the size of the two combined), while the United States has TWICE the voting power than any other member.

“The IMF’s main objective is to ensure global financial stability and to support the international financial system in times of crisis.”

It also acts in tandem with the World Bank; both are seen as very inept and biased towards the US and EU.