Paschal Donohoe is to resign from Government and step down as Minister for Finance to take up a position at the World Bank, Cabinet ministers have been told.
The Irish Times have reported that Mr Donohoe has been offered the role of managing director, effectively the number two position at the bank, and he has informed the Taoiseach and Tánaiste that he will accept it.
Mr Donohoe has long been linked with roles in the global financial world and is the current chair of the Eurogroup of finance ministers.
He will step down from his position as Minister for Finance on Tuesday and resign as a TD later this week, according to The Irish Times.
More to follow.
