IMF approves release of $880m for Ukraine

WASHINGTON, Mar 23 (AFP): 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.

"However, macroeconomic and financial stability has been preserved, reflecting skillful policymaking by the Ukrainian authorities as well as substantial external support," she added.