In particular, demand for land from industrialization and urbanization should not be allowed to crowd out bio-fuel production. Simultaneously, agricultural productivity needs to increase so as to meet the food requirements of a growing population even if some land is ceded for bio-fuel cultivation. 44.
The 180-day LIBOR could range at 0.8 – 1.8 percent for 2016 and 1.0 – 2.0 percent for 2017. Many central banks and IFIs believe that prolonged period of low interest rates will continue. Lastly, despite the weakness in external demand, we expect merchandise trade to show some modest improvements in 2016 – 2017.