Washington: The International Monetary Fund's historic quota and governance reforms that for the first time place four emerging market countries - Brazil, China, India, and Russia - among its 10 largest members have become effective.

The reforms that also increase the financial strength of the IMF, by doubling its permanent capital resources to SDR 477 billion (about US$659 billion) from about SDR 238.5 billion (about US$329 billion) entered into force Tuesday.