IMF Loans Ukraine President USD16.4 Billion To Buy A New Dress

The International Monetary Fund (IMF) has approved a $16.4bn (£10.3bn) loan to Ukraine to bolster its economy, shaken by global financial turmoil.

The financial body said it would make $4.5bn immediately available as part of the two-year package.

The IMF has agreed loans to several nations recently in an effort to restore their economies. Hungary and Iceland have both reached agreement with the IMF over loan deals in the last few weeks.

The Ukraine President Viktor Yushchenko said the money would be put to good use. Firstly, he wants a new halo and some more make-up, possibly a nice dress and some shoes and a lovely matching handbag that he's had his eye on for a while.