Ghana could go for another Eurobond next year to raise $750 million that will be used to finance a growing budget deficit in the West African nation, the country’s finance minister revealed in his 2016 expenditure and revenue projections.

Seth Terkper said the government was planning to finance a $2.5 billion projected budget deficit with funds from the domestic and international markets.

He had indicated at the end of last year that the sovereign could print a fresh Eurobond of upto $500 million by the end of this year if the market conditions were right, Reuters reported.

Ghana’s bid to launch its fourth Eurobond in four years worth $1.5 billion on October 2 failed after foreign investors ditched the bond, forcing the West African nation to abandon the offer.

most investors showed poor interest, while the few that did offered a much higher yield than expected citing poor economic fundamentals for their move, citifmonline reported.

Concerns over a slowdown in the Chinese economy, sub-Saharan Africa largest trade partner, and a possible interest rate rise in the US has roiled global markets making international investors risk averse to frontier debt in countries like Ghana.

Some analysts have said that Ghana’s increased frequency to the Eurobond market was due to restrictions leveled on the country’s central bank by the IMF in terms of how it can finance government’s deficit.

Analysts are keeping a keen eye on the finance minister and the Central Bank as they plan to issue this fourth Eurobond in four years given the high rates Ghana got in its last $1 billion Eurobond.