WASHINGTON (Reuters) - The International Monetary Fund's board decided that Ukraine must participate in post-program monitoring, subjecting its economic policies to greater scrutiny from the Washington-based lender.
The IMF froze a $15.5 billion standby credit program with Ukraine in 2011 after Kiev reneged on commitments to raise domestic gas prices. The program officially expired last December.
Ukraine received only two disbursements before the program went off track, totaling about $3.4 billion. But the country's debt to the Fund has since grown to $8 billion as of the end of June. The IMF's board decided Ukraine must still participate in the monitoring given the size of its debts to the IMF, the Fund said on Monday.
(Reporting by Anna Yukhananov; editing by Jackie Frank)
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