MERCOSUR Report No. 10 (2004-2005)
Inter-American Development Bank (IDB)
The period between the second half of 2004 and the first half of 2005 can be characterized as a timeof convergence in regional macroeconomic trends. The countries of the Southern Common Market(MERCOSUR) saw not only significant economic and trade dynamism in this phase, but also commonpatterns of fiscal and monetary solvency, similar exchange rates with higher parities than those recordedin the previous decade, positive current account balances, and other factors.