BRUSSELS, Dec 31: The European Central Bank has lived up to its mandate and proved committed to keeping prices stable, International Monetary Fund Managing Director Horst Koehler said in a televised statement broadcast on Monday.

In a pre-recorded statement, Koehler said the changeover would cement monetary integration, which had so far been “clearly successful”.

He particularly praised the policymakers responsible for setting monetary and fiscal policy in the 12-nation euro zone.

“The guardian of the common currency, the European Central Bank, has, under the leadership of its president, Wim Duisenberg, fully lived up to its charter, both in the design and in the implementation of monetary policy,” Koehler said.—Reuters