WASHINGTON - The International Monetary Fund's executive board confirmed Thursday it will disburse $880 million to Ukraine in the third phase of a $15.6 billion aid package to support the country's war-torn economy."Russia's invasion of Ukraine continues to bring enormous social and economic costs to Ukraine," IMF managing director Kristalina Georgieva said in a statement confirming the board's decision.
The board's approval comes around a month after an IMF staff visit to Ukraine found that the authorities had met most of the necessary criteria to release the money -- aside from a "small miss" on tax revenues due to border blockages.More than two years since the Russian invasion began, Ukraine still faces near-daily aerial bombardments of its major cities, including the capital Kiev, while the grueling ground war continues in the east of the country.