The International Monetary Fund has confirmed providing a recurrent tranche of $4.7 million to Armenia. When commenting on this decision IMF Deputy Managing Director Agustin Carstens appreciated the economic growth registered in Armenia in 2005. «The rate is expected to be sustained next year owing to the flow of investments, as well as money transfer from foreign countries,» he remarked. Within 3 years the IMF has allocated $33 million for poverty reduction in Armenia.