Brazil will represent Timor Leste's (East Timor) interests at the International Monetary fund (IMF) starting on 1 November, the Timorese government said in a statement issued Tuesday in Dili.

Under the terms of the statement, Timor-Leste will become part of the Brazilian board (constituency) at the executive council of the IMF, and will become the first Asian country to be represented by Brazil, which already represents nations from South America, Central America, and the Caribbean.

Timor Leste will be represented by Brazil as of the next elections for the Fund's Executive Council.

According to the statement, the move will increase cooperation between the two countries, both on a bilateral and multilateral level, in both economic and financial terms. (macauhub)