IMF approves about $690 million for Ukraine after loan review

The International Monetary Fund said Monday that Ukraine can immediately access about $690 million after a review of its loan program.

The IMF said the move would bring disbursements under Ukraine's $8.1 billion financing arrangement to around $2.2 billion.

The review comes as Ukraine seeks to maintain economic stability and continue reforms while Russia has escalated its bombardment of the country. Ukraine is in its fifth year of war after Russia's invasion in early 2022.

The IMF said Ukraine had maintained macroeconomic and financial stability despite Russia's continuing war, a more difficult external environment and exceptionally high risks. It also said Ukraine's performance under the program had been broadly satisfactory.

IMF Managing Director Kristalina Georgieva said after the executive board's discussion that Ukraine continued to show resilience during the conflict. She said preserving macroeconomic stability remained the immediate priority and called for prudent fiscal and monetary policy, as well as steps to protect the resilience of the financial sector.