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The IMF mission comes almost four years after Ireland exited the Troika bailout which it supported, alongside the European Commission and European Central Bank.

Mr Donohoe said the findings are expected to play an important role in identifying how systems already in place for delivering publicly funded infrastructure "might be further strengthened".

The public expenditure spokesman said there is an argument to be made to the EU about relaxing spending rules in relation to capital infrastructure, listing the need to upgrade ports and to invest in transport.

He said his party wants to see a "firm indication" of the Government's investment plans in this week's Summer Economic Statement and a "very detailed" capital plan later in the year that includes timeframes.

It's the first time it has carried out such a study here and the exercise has no relation to the previous Troika programme.

The report will evaluate the design and effectiveness of institutions that shape decision-making at three key stages of the public investment cycle - planning; allocating; and implementing investment.

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