- increase in the amount of lending that countries can obtain from the IMF
- additional flexibility in the terms of the loan as well as the lending processes
- loans are conditional on pre-qualification criteria rather than ex-post outcomes (this is probably one of the most significant changes as these conditions were many times seen as unnecessary impositions on domestic economic policy
If you want to know more, the IMF provides details on all these changes in their web site.
It will be interesting to see how the new lending facilities change the attitude of some of the countries that today do not consider the IMF as the first place to go for funding in times of crisis. These changes are also happening at the time when we hear additional demands for the need of an international authority in matters such as exchange rate or the creation of a world currency which is independent of national governments (as expressed by Zhoe Xiaochuan, the Chinese central bank governor).