noun
- a temporary prohibition or suspension of an activity
- an authorized delay in the payment of debts or the performance of obligations
Usage: legal; financial
Examples
- The city declared a moratorium on new construction in the historic district.
- Environmental groups called for a moratorium on offshore drilling.
- The bank granted a six-month moratorium on loan payments.
- There is currently a moratorium on nuclear weapons testing.
- The government imposed a moratorium on evictions during the pandemic.
- The company announced a moratorium on layoffs until next year.
- A moratorium on fishing in the area will help restore fish populations.