IMF board okays $880 million loan payment for Ukraine, sees war winding down in '24

Halyna, a local resident, throws stuff near her house, destroyed during a Russian missile strike, amid Russia's attack on Ukraine, near Kyiv, Ukraine March 21, 2024. REUTERS/Alina Smutko

WASHINGTON (Reuters) -The International Monetary Fund's executive board on Thursday approved a third review of Ukraine's $15.6 billion loan program, allowing the release of $880 million for budget support and bringing total disbursements to $5.4 billion, the IMF said.

The global lender said the risks facing Ukraine remained exceptionally high, particularly the uncertainties surrounding the war with Russia and prospects for external financing, although Ukraine mission chief Gavin Gray said the fund still expected the war in Ukraine to wind down by the end of 2024.