Pittsburgh, Pennsylvania  - Leaders of the Group of 20 (G20) nations reached a tentative deal Friday to give developing countries a greater voice in global financial institutions.

After a two-day summit in Pittsburgh, Pennsylvania, the G20 said it had agreed to give developing countries an increase in voting shares of at least 5 per cent in the International Monetary Fund. That would bring them close to a 50-per-cent share of votes in the organization.

The measure will be put in place by 2011.

IMF Managing Director Dominique Strauss-Kahn called it an "historic decision" that would give developing countries a greater voice in an institution that has long been dominated by the wealthy world.

China, India and Brazil have been pushing hardest for an increased voice in international institutions. The emerging economies won another major victory earlier today with a commitment by leaders to make the G20 the primary bloc to consider global economic issues, replacing the Group of Eight (G8) of the seven largest industrialized economies and Russia.

"This historic decision and the emergence of the G20 as a key forum for international economic cooperation will lay the foundation for a deeper partnership in global economic policy between emerging and developing countries and the advanced economies," Strauss-Kahn said. (dpa)