MERCOSUR Report No. 9 (2003-2004)
Inter-American Development Bank (IDB)
The period beginning in the first half of 2003 opened a window of opportunity for MERCOSUR¿s internal agenda. Convergence among the member countries¿ exchange rate policies, the resumption of economic growth in the subregion, and the assumption of power on the part of heads of state who are explicitly favorable to the bloc created an auspicious environment for intra -MERCOSUR understanding. The Asunción Summit in June 2003 revealed a new level of ambition in the integration project, and its outcomes amounted to an effort to recover the group¿s internal negotiating agenda.