The Department of Finance has said no agreement has been reached on reducing the bailout interest rate being charged to Ireland by the European Union.
The BBC has reported the loan rates will be cut.
The Department of Finance has said its understanding is that the European Commission is working on paperwork required in the event of such a cut.
However this is a technical exercise and no political agreement whatsoever has been reached on the issue, even though Ireland is continuing to lobby other governments, according to the department.
The BBC gave no details on the alleged agreement, but claimed that a a 1% cut could be worth up to €400m.
It reported that sources said a special written procedure will be adopted ahead of the meeting of EU finance ministers on 17 May.
