Minister for Finance Paschal Donohoe has submitted his candidacy for a second term as President of the Eurogroup of Finance Ministers.
He was first elected to the role for a two and a half year term in the summer of 2020.
However, it is expected that Minister Donohoe will switch ministerial portfolios in the coming weeks which will mean he is no longer Finance Minister.
A spokesperson recently told RTÉ that if Mr Donohoe was re-elected to the role, he would carry out his duties in the role as Minister for Public Expenditure and Reform.
The Minister for Finance at that point, expected to be Michael McGrath after the December reshuffle, will represent Ireland and will attend Eurogroup and ECOFIN.
In his letter announcing his candidacy, Mr Donohoe says strengthening co-ordination between member states in tackling inflation would be his first priority.
Progress on Banking Union, the Digital Euro and a broadening of 'transatlantic dialogues' are among the items that the Minister highlights in his letter seeking re-election.
The president of the Eurogroup is usually a sitting finance minister.
However, Luxembourg had two representatives while Jean-Claude Juncker was head of the influential group in the past.
"It has been my privilege to serve you as President of the Eurogroup since July 2020. Together we have achieved many successes; nonetheless, challenges remain and new ones are evolving," Mr Donohoe wrote to his Eurogroup colleagues.
Mr Donohoe said his first priority if re-elected would be to strengthen the coordination of action and national policies to ensure they do not add to inflationary pressures.
Read Paschal Donohoe's letter in full
He said he was also committed to "further strengthening our Banking Union" and tabling further work for discussion on the "Digital Euro".
Mr Donohoe said the war in Ukraine reminds member states of the importance of the "core values that unite us".
"As we tackle the many challenges that lie in front of us, we cannot forget that there is war on our borders; however high the economic cost to us, the price Ukraine's citizens are paying is with their lives," he said.
The deadline for candidates to apply is 24 November with a vote taking place on 5 December.
The President of the Eurogroup is elected by a simple majority of at least 10 votes.
