Joseph Stiglitz offered a realistic assessment of Burma?s economic needs. But were the country?s rulers really listening?... "There is the hope that this is the moment of change for the country,? said Joseph Stiglitz, the Nobel Economics laureate and former chief economist of the World Bank, after his visit to Burma in December. Stiglitz was speaking at a press conference in Singapore organized by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) after attending an economics forum in the Burmese capital, Naypyidaw. During his visit, Stiglitz told Burmese military officials led by Agriculture and Rural Development Minister Maj-Gen Htay Oo and National Development Minister Soe Tha that revenues from oil and gas, if well used, could open up a new era for the country. He called specifically for an increase in spending on education, which he said was necessary because the country is aging and the next generation needs to be prepared to face the challenges of economic development. He especially urged the Burmese regime to improve the economic conditions of the rural poor. Around 75 percent of the country?s estimated 57 million people live in rural areas. Burmese farmers are especially hard hit by crippling loan charges. According to researchers, farmers pay as much as 7 to 10 percent interest a month in Burma—which Stiglitz described as a symptom of serious malfunctioning of the credit system. He stressed this point repeatedly and noted that productivity suffered because of the lack of capital to buy fertilizers..."