LIBOR has been used as a benchmark interest rate for quite some time. However, criticism of LIBOR increased recently, forcing central banks to develop alternate benchmark rates. You are an official at your country's central bank, which is still following the LIBOR benchmark. You are required to write a report to convince the central bank to abandon LIBOR and adopt a new benchmark. You support your report with evidence of what is wrong with LIBOR. You also give examples of other countries that have adopted new benchmarks. You specifically focus on the US as an example which has adopted SOFR as a new benchmark. You explain to the officials what SOFR is and how your country can adopt a similar