Srilanka, March 23 -- Sri Lanka has one of the highest real interest rates and Government debt interest payment rates globally, former Associate Professor of Economics at the International Institute of Social Studies, Erasmus University Rotterdam, Howard Nicholas said.

Nicholas told a meeting on the 2025 Budget organised by the Asia Progress Forum that the National People's Power (NPP) Government faces significant pressure from the International Monetary Fund (IMF) and other Western nations not to pursue industrialisation.

Maintaining high real interest rates and substantial Government debt interest payments are strategic measures designed to prevent industrialisation, Nicholas said.

"However, industrialisation is the only path for Sr...