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.
The proposal for extending the moratorium was made by the ultranationalist anti-EU party Ataka, a key ally of the Socialist-led coalition government.
Pakistan has had a moratorium on the death penalty since June 2008, with only the execution of Muhammad Hussain in November 2012 following a court martial.
We are working with the Health Board to confirm the transitional arrangements for dealing with this scheme outside the moratorium.
O'Brien agreed that a thoughtful discussion of this issue is needed at the committee level, but he added there is also a need to have a moratorium put in place while the Municipal Operations Committee hashes out the issue.
4) In addition, in 1992, a federal moratorium was implemented outside the context of a change in administration when President George H.
Iran fully supports proposals on a five-year moratorium on sturgeon fishing in the Caspian Sea and is ready to continue work for the protection of the Caspian Sea water resources," Ali Asgar Mojahedin, head of the Iran Fisheries Organization, was quoted by the Novosti-Azerbaijan news agency as saying after a session of the Commission on Aquatic Bioresources of the Caspian Sea in the Azeri capital.
Nunaisiavut Lands and Resources Minister Glenn Sheppard said he understands the moratorium is costing companies money, but a mining plan must be developed before work can continue The moratorium was put in place in 2008.
Global Banking News-April 1, 2011--M&I extends moratorium for homeowners in distress(C)2011 ENPublishing - http://www.
A moratorium on gambling house licenses is expected to be lifted before the end of the year, a senior official in the Ministry of Environment and Tourism has said.
monuments, no portion of the federal OCS has a permanent moratorium on