Accusations that the Prime Minister snubbed France's head of state when, in opposition, Mr Hollande visited London during the presidential campaign, will be put aside as the two leaders discuss economic issues over lunch at Number 10 on Tuesday.
It will be the second time Mr Cameron and Mr Hollande have held bilateral discussions following a meeting in the US ahead of May's G8 summit.
The French President has succeeded in getting the eurozone and EU to give greater emphasis to growth as well as austerity.
However, France's desire to see a £50 billion a year Europe-wide financial transaction tax will not be echoed by the UK Government as the Mr Cameron believes that, unless it is implemented worldwide, it would harm the City of London.
As well as the eurozone, the two leaders are also expected to talk about UK-France relations and international matters such as Syria. It is not thought, however, they will discuss Mr Hollande's "tax grab" on British owners of holiday homes in France.
As the Cameron-Hollande meeting was announced, the pound hit its highest level against the euro since November 2008, the day after the European Central Bank lowered its key interest rate. Sterling rose by almost a cent to €1.26, making a euro worth 79.3p.
Meanwhile, IMF chief Christine Lagarde praised the eurozone's moves towards greater fiscal integration but stressed more needed to be done, saying it was also a question of "diligent implementation".
She also made clear the global watchdog's next forecast for global economic growth would be cut from the 3.5% predicted in April.