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IMF

Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership. The United Nations is the parent organisation that handles the proper functioning and administration of the IMF.
The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund's mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.
It also provides periodic assessments of global prospects in its World Economic Outlook , of financial markets in its Global Financial Stability Report , of public finance developments in its Fiscal Monitor , and of external positions of the largest economies in its External Sector Report , in addition to a series of regional economic outlooks.
SDRs: The IMF issues an international reserve asset known as Special Drawing Rights , or SDRs, that can supplement the official reserves of member countries.  IMF members can voluntarily exchange SDRs for currencies among themselves. The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members.
SDR basket of currencies includes the U.S. dollar, Euro, Japanese yen, pound sterling and the Chinese renminbi (included in 2016).
Headquarters: Washington, D.C.
Formed in 1944 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes,[6] it came into formal existence in 1945.
IMF Members: Any other state, whether or not a member of the UN, may become a member of the IMF in accordance with IMF Articles of Agreement and terms prescribed by the Board of Governors.
Pay a quota subscription: On joining the IMF, each member country contributes a certain sum of money, called a quota subscription, which is based on the country’s wealth and economic performance (Quota Formula).
  • It is a weighted average of GDP (weight of 50 percent)
  • Openness (30 percent),
  • Economic variability (15 percent),
  • International reserves (5 percent).
For decades, Europe and the United States have guaranteed the helm of the IMF to a European and that of the World Bank to an American. 

It is almost impossible to make any reform in the current quota system as more than 85% of total votes are required to make it happen. The 85% votes does not cover 85% countries but countries which have 85% of voting power and only USA has voting share of around 17% which makes it impossible to reform quota without consent of developed countries.

2016 -  It increased 6% quota share for developing countries and reduced same share of developed or over represented countries. India’s voting rights increased to 2.6 per cent from the current 2.3 per cent, and China’s to six per cent from 3.8.  India's quota - 2.76%

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