The IMF has approved a new three-year Poverty Reduction and Growth Facility program under which Armenia will receive some $34.2 million in low-interest loans, RFE/RL\'s Armenian Service reported on 27 May quoting the IMF office in Yerevan. The first tranche, worth some $4.9 million, was disbursed on 25 May. IMF Deputy Managing Director Agustin Carstens noted Armenia\'s strong economic performance in 2004 and early 2005, as reflected in GDP growth and a fall in inflation. He added that \"poverty and inequality indicators have improved notably in recent years,\" adding that \"the authorities\' new PRGF-supported program aims at consolidating macro-economic stability, generating additional domestic resources to finance poverty-reduction and growth-enhancing expenditures, and boosting private sector activities.\" (RFE/RL)