Moratorium

A temporary delay. An example of a moratorium is a delay in the payment of debt. That is, if too many people are unable to repay loans, the government may declare that no one is legally obligated to make debt service payments for a period of six months. Likewise, if a company is having a difficult year, it may declare a moratorium on research and development funding for two years in order to save money.

moratorium

the suspension of repayment of DEBT, or INTEREST, for a specified period of time. For example, the freezing of debt repayment obligations extended by advanced country governments and private banks to a developing country that is experiencing acute balance of payments difficulties or the suspension of debt payments owing to dealers in a commodity market that has suffered a dramatic price collapse. See DEBT SERVICING, INTERNATIONAL DEBT.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

moratorium

A temporary cessation.Usually encountered in real estate when a local government suspends issuance of building permits in a particular area because, for example, the existing water line or sewer line capacity will not accommodate new growth.

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References in periodicals archive

moratorium went into effect in 2006, and is scheduled to end in 2022.

Outer continental shelf moratoria on oil and gas development

Tagle said a moratorium could also affect social housing plans.

Baguio developers wary of ban on tree cutting, new buildings

Rompas said the permanent moratorium still did not provide adequate protection for primary forest and peatland in the long run, blaming a lack of punishment and loopholes in regulations.

Indonesia president makes moratorium on forest clearance permanent

"The recent moratoriums announced for Westchester and Long Island are the canary in the coal mine for New York's energy future.

Labor leaders join energy coalition to protest natural gas moratorium

'Pakistan, in accordance with its consistent policy, voted against the General Assembly resolution calling for a moratorium on execution,' Dr Faisal said.

Islamabad's vote on death penalty at UN corrected

'The statement by the Minister of Communications and Multimedia, Gobind Singh Deo, that the moratorium 'is limited to incidents that threaten national security, public order, and race relations' is ironic, in that the previous government had often justified its use of those repressive laws on the same basis.

Don't break your promise, Pakatan told after 'oppressive' laws allowed for use

"The Commission made such a decision during the session held at the end of 2010 that the Caspian littoral states apply a technical moratorium before the agreement is signed.

Caspian littoral states to struggle against illegal exploitation

On February 24, the government issued a 90-day moratorium, then extended last week for another six months.

Extended logging ban 'painful', may hurt Big Four - sawmillers