Mercosur sets macroeconomic convergence targets

The Southern Cone Common Market, or Mercosur, on Wednesday announced macroeconomic convergence targets, including fiscal and inflationary goals, top officials said.

Brazil finance minister Pedro Malan said the targets would come into effect for Mercosur countries and he hoped that associate members Chile and Bolivia would also adhere. Mercosur set targets for inflation, public debt in relation to gross domestic product, and consolidated public sector nominal deficit.

For inflation, Mercosur set