Argentina expects the International Monetary Fund to allow it to postpone loan payments for the third time since 2001, according to the country’s finance official.

The government hopes the International Monetary Fund will decide to let Argentina have more time to ensure it has $4 billion to pay bondholders this year, said Argentine Finance Secretary Guillermo Nielsen. ``This extension would give Argentina some breathing space. But it’s only temporary relief because it will have to face up to it next year,’’ said Claudio Loser, a former director of Western Hemisphere for the IMF.

Argentina’s budget deficits grew to as much as 14.3 billion pesos ($4.9 billion) this year. Argentina’s government owes the IMF as much as $14 billion and needs the delay of the payment to fight the deficits.

The government is also asking the IMF to extend the payment of $1.5 billion the country owes to the fund in 2005, said Martin Apaz, a Deloitte & Touche LLP economist in Buenos Aires.

A $13.3 billion loan agreement with Argentina was put on hold by the IMF last year that is waiting for the country to restructure its defaulted debt.