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Troika set to give another thumbs-up

IRELAND is under the Troika's magnifying glass again today as officials give the country its seventh report card.

Members of the IMF, the EC and the ECB are pouring over Ireland's books to identify key economic indicators.

However, the Government is confident we'll be given another clean bill of health.

As well as examining macro-economic policy, the Troika has met widely with Government officials on the latest trip to discuss policy and reform.

But it's believed that the overall performance of the economy may now return to centre stage.

Alan McQuaid, economist at Merrion Stockbrokers, said all eyes are now on next year's predictions, as there are fears that 2012 will prove weaker than forecast owing to a stagnant global economy.

"That looks for growth of 2pc, but, based on these figures and the general slowdown in the world economy, that may not be achieved," he said.

"The question is whether they do more correction to try to meet the targets. I think that would be the wrong approach."

The Troika's agenda will investigate the progress on plans to sell Bord Gais, the restructuring plan for Permanent TSB and Ireland's re-engaging with the bond market.

The Troika team is understood to have quizzed the heads of all the main banks, as well as officials from Nama and the NTMA over the past week, as they ticked off progress on 100 conditions and measures set out in the bailout pact.