"The International Monetary Fund (IMF) said Monday it ended its latest fiscal year with a profit of $126 million, as the global economic crisis spurred higher lending. The Fund said its finances improved markedly after an initial projection of a shortfall of about $292 million for the 2009 fiscal year ended April 30.... The profit for the fiscal year compared with a loss of $89 million a year earlier as the IMF, the lender of last resort to countries in crisis, saw its finances strained as nations emerged from turmoil...." [Agence France Presse/Factiva]

Dow Jones adds that "...the profit 'stemmed primarily from higher than expected income on the Fund's investment portfolio, which is made up largely of fixed-income securities, and an increase in lending income reflecting greater demand from members for fund financing in light of global economic conditions,' the IMF's executive board said in a statement. While investment income will likely decline in the current fiscal year due to falling interest rates, lending income should continue to expand, the board said...." [Dow Jones/Factiva]