moratorium JUST WRITTEN FOR YOU
/ˌmɒr.əˈtɔːr.i.əm/ · mor·a·tor·i·um
noun
- An authorization granted to a debtor that permits a temporary suspension of payments. The bank granted the company a moratorium on loan repayments until the end of the fiscal year.
- A temporary suspension of an ongoing activity, law, or policy. The government announced a moratorium on new oil‑drilling permits pending an environmental review.
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Did you know? The United Nations imposed a moratorium on nuclear weapons testing in 1996, and it remains in effect, showing how the term can influence worldwide policy.