According to the data provided by Agence France-Presse October 23, G-20 Finance ministers came to an agreement over reforming the International Monetary Fund. G-20 Finance ministers decided to offer two seats in the IMF Executive Board to representatives of developing countries. IMF chief Dominique Strauss-Kahn said that this reform seems to be the most large-scale since the foundation of the organization. As Reuters informs, the number of the Executive Board members will remain unchanged – 24. The two seats will be given to developing countries at the expense of European countries, taking 8-9 seats for the moment. The meeting of G20 Finance ministers is held in Gyeongju, South Korea, ahead of the G-20 summit which is to take place in Seoul in November.