Moratorium: meaning, definitions and examples
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moratorium
[ məˈrɔːtəˌrɪəm ]
law, finance
A moratorium is a legally sanctioned period during which a particular activity is temporarily suspended. It is often used to halt financial obligations or to provide a break from certain processes, allowing individuals or entities time to recover or to take measures to address specific issues.
Synonyms
cessation, delay, postponement, suspension.
Examples of usage
- The city enacted a moratorium on new construction permits.
- A moratorium on eviction was established during the pandemic.
- The government declared a moratorium on debt repayments.
- They are calling for a moratorium on fossil fuel exploration.
Translations
Translations of the word "moratorium" in other languages:
🇵🇹 moratório
🇮🇳 निषेधाज्ञा
🇩🇪 Moratorium
🇮🇩 moratorium
🇺🇦 мораторій
🇵🇱 moratorium
🇯🇵 モラトリウム
🇫🇷 moratoire
🇪🇸 moratorio
🇹🇷 moratoryum
🇰🇷 유예
🇸🇦 تجميد
🇨🇿 moratorium
🇸🇰 moratórium
🇨🇳 暂缓
🇸🇮 moratorij
🇮🇸 moratorium
🇰🇿 мораторий
🇬🇪 მორატორიუმი
🇦🇿 moratorium
🇲🇽 moratorio
Etymology
The term 'moratorium' comes from the Latin word 'moratorius', meaning 'delaying' or 'postponing'. The concept has been used in various legal and financial contexts, particularly since the 19th century. Initially, it referred to specific legal measures that allowed for the extension of time for fulfilling obligations. Over time, the application of moratoria expanded to include not only financial considerations but also social and political circumstances. The use of moratoriums has often been associated with humanitarian crises, economic downturns, and legislative actions aimed at providing relief or a temporary pause in contentious or overwhelming situations.