Peru could issue more local currency bonds as soon as this year after raising 9.2 billion soles ($2.5 billion) on Tuesday, Finance Minister Alex Contreras said.

“It’s going to depend a lot on the market, if we find a window like this one,” Contreras said in an interview. “Going forward we don’t have budget needs, but if the market allows it we could raise more.”

Government debt sales are tied to a strategy to increase the share of Peru’s debt that is denominated in soles, Contreras said, just hours after closing its first debt sale of the year through a bond tied to environmental and social expenditures. He added that Peru would use the funds raised in soles to swap local currency bonds with near-term maturities and buy back dollar-denominated bonds with cash.

“We are trying to reverse the dollarization trend of the past few years,” he added.

Read More: Peru Sells $2.5 Billion of Sol Bonds to Fund Buyback, Spending

Peru’s current debt load is split with around 55% denominated in dollars and 45% in soles, Contreras said. The country has among the lowest debt-to-GDP ratios in Latin America and maintains an investment grade credit rating despite extensive political turmoil. Peru’s dollar notes have handed investors 3.3% returns this year, beating the average of 2.2% among peers.

--With assistance from Zijia Song.