A joint International Monetary Fund (IMF) and World Bank think-tank will visit Romania on November 3-14 to assess the country's financial system, a press release of the regional IMF Office for Romania and Bulgaria said yesterday.

The mission is the second of this kind to Romania, after the former one which evaluated the country's financial system in 2003.

"The mission will not discuss or negotiate any financial assistance to Romania," said the press release.

The current worldwide situation is very difficult for Romania, the developed countries are under a deleveraging process with profound implications for the emergent markets, according to the IMF officials.

Standard & Poors Rating Services recently revised downwards Romania's rating for long term hard currency credits, namely to BB plus from BB minus.

The IMF and the Romanian authorities are to discuss the likely effects of the turbulence on the financial market, but not about providing financial support to Romania.

The IMF believes that solid salary and fiscal policies are required, in order to defend the interests of all the Romanians, particularly of the most vulnerable categories. IMF says it is ready to help the Romanian authorities in their efforts to attain the macroeconomic stability and improve the investors' trust and confidence.

The stand-by agreement between the IMF and Romania ceased in 2006, and the eastern European country continues to cooperate with the fund via collaborations with experts of the institution.