moratorium


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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.

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.

References in periodicals archive ?
More than half of Minnesota voters oppose increased frac sand mining in the state, and 64 percent support a two-year moratorium in the karst areas of southeastern Minnesota while potential environmental impacts are more fully assessed and state regulations are developed, according to a recent poll.
I had only one person say that we should have a moratorium.
Earlier this month, Prime Minister Plamen Oresharski said extending the moratorium would be unpractical and breach agreements with the EU.
Conwy Cllr Dave Cowans, Cllr Phil Edwards and Conwy carer's champion Cllr Cheryl Carlisle had expressed grave concerns following a decision by the Wales Government to issue a moratorium on the submission of all Primary Care Estate Applications.
The councilor emphasized the moratorium would only affect the issuance of new livery licenses and would have no impact on those whose licenses are coming up for renewal.
The moratorium aims to restore biodiversity in the Caspian Sea.
Israeli Prime Minister Benjamin Netanyahu is reportedly planning to end the moratorium on September 26, while curbing construction in order to avoid a showdown with US President Barack Obama.
The Justice Department said it will now seek to have the court order blocking the original moratorium thrown out, with the administration arguing a pause is needed because of the BP oil spill in the Gulf of Mexico.
The Obama administration has said it will push through with a halt on off shore oil drilling, snubbing a court ruling declaring its six-month moratorium too broad and arbitrary.
The moratorium on drilling is having the direst effect on jobs in Louisiana," said Professor Eric Smith, director of Tulane University's Institute of Energy.
BDI spokeswoman Ermira Mehmeti-Devaja stated that with this moratorium VMRO-DPMNE only created conditions for increasing the ethnic Albanian requirements.
BDI vice president Teuta Arifi comments for Dnevnik that to intrigue a moratorium on interethnic issues means showing fear of confronting real issues and finding real answers and solutions.