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 ?
moratorium went into effect in 2006, and is scheduled to end in 2022.
Tagle said a moratorium could also affect social housing plans.
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.
"In order to render maximum assistance to Arkansans struggling with storm damage and flooding, I have issued this moratorium applying to all types of insurance policies sold in this state.
"The recent moratoriums announced for Westchester and Long Island are the canary in the coal mine for New York's energy future.
"When it is released or released from the moratorium, others will follow as usual," Lilang said.
'Pakistan, in accordance with its consistent policy, voted against the General Assembly resolution calling for a moratorium on execution,' Dr Faisal said.
'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.
"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.
On February 24, the government issued a 90-day moratorium, then extended last week for another six months.
The new secretarial order follow's President Donald Trump's executive order to promote energy independence and economic growth, which, among several procoal initiatives, directed Secretary Zinke to lift the leasing moratorium. In addition to lifting the moratorium and discontinuing the development of the PEIS, Zinke also signed a charter reconstituting the Royalty Policy Committee (RPC)--the advisory board tasked with evaluating fair market value and the collection of revenue from energy and mineral resources.
In late March, Secretary of the Interior Ryan Zinke issued Secretarial Order 3348 revoking the January 16, 2016, order 3338 issued by Secretary Sally Jewell that placed a moratorium on federal coal leases.