South Sudan’s rotten state finances are derailing the young country from its already fraught path to peace and stability after a brutal civil war. Top officials hold the country’s oil riches close, barring scrutiny of spending and allowing rampant misappropriation of funds. This slush-fund governance is at the heart of South Sudan’s system of winner-take-all politics and helps explain why so much went so wrong so quickly after independence in 2011. The peace deal signed…

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