The Brazilian foreign minister has called for international co-operation to help resolve worldwide financial problems.

In a speech opening the United Nations General Assembly, Luiz Felipe Lampreia contrasted the financial interdependence of the world's economies with what he called the lack of political will to present a united front to help combat instability in global financial markets.

Meanwhile, the Sao Paulo stock market., the largest in Latin America, registered a fall of over five per cent when it opened for trading on Monday morning.