Argentina on Tuesday announced it was issuing 17 million U.S. dollars' worth of debt (about 637 million pesos) in treasury bills, known locally as Letes.

The move, aimed at bolstering the peso, lowering inflation and raising revenue, offers 182-day treasury bills in local currency at 51.25 percent semiannual interest. The bills come due in May 2019.

Argentina's cash-strapped government last issued debt at the end of October, worth some 67 billion pesos (1.9 billion U.S. dollars), with due dates in May 2019 and April 2020.

The government has secured a 57 billion U.S. dollar loan from the International Monetary Fund (IMF), the biggest in the fund's history, "for budget support."

The disbursement schedule runs through 2021.