The disclosure, June 13 -- Ukraine's wartime economy cleared a major financing hurdle on Friday when the International Monetary Fund approved a $690 million tranche under its four-year lending program, even as it acknowledged that Kyiv had failed to meet one structural reform condition and dragged its feet on two others required by the end of March.

the program the Fund approved in February, replacing an exhausted $15.5 billion facility that had carried Kyiv through three years of war. All quantitative performance criteria and indicative targets for the first quarter were met, the IMF said, meaning Ukraine kept its fiscal numbers inside agreed limits. But the structural benchmarks - the legislative and institutional changes required alon...