Ankara: The International Monetary Fund (IMF) on Monday approved the first review of Ukraine's 48-month Extended Fund Facility program, allowing for the immediate release of about $690 million in financial support as Kyiv continues to manage the economic impact of Russia's war. The IMF Executive Board approved the disbursement of 503 million Special Drawing Rights (SDRs), bringing total IMF payments under the program to about 1.6 billion SDRs, or roughly $2.2 billion. The board also concluded its 2026 Article IV consultation with Ukraine, which examined policies aimed at maintaining economic stability during the war and supporting the country's transition toward a market-based economy aligned with its EU accession goals. According to Anadolu Agency, the IMF said Ukraine's economic performance under the program has been "broadly satisfactory," with all end-March quantitative targets met. However, it noted delays in implementing some structural reforms and said a June target on net international reserves was missed, partly due to the impact of the war in the Middle East. "Ukraine continues to demonstrate remarkable resilience in the face of Russia's devastating war," IMF Managing Director Kristalina Georgieva said after the board meeting. "Sound policies, anchored by the Fund-supported program, together with strong international support, have helped preserve macroeconomic and financial stability under exceptionally difficult circumstances," she said. Commenting on the funding, Ukraine's new Prime Minister Serhii Koretskyi said in a statement on US social media company X on Tuesday morning that the about $690 million disbursement will raise total financing provided to Ukraine under the EFF program to approximately $2.2 billion. Expressing that Ukraine met all quantitative performance criteria and indicative targets set for the end of March, Koretskyi said updated timelines for structural reforms and additional measures to ensure the program remains on track were agreed upon as part of the review conducted. "The Government is committed to accelerating the implementation of these reforms. They are essential to maintaining access to external financing, strengthening financial resilience, and creating the conditions for recovery, long-term economic growth, and Ukraine's accession to the European Union," Koretskyi added.