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Moratorium
01
an officially declared pause of a specific action or policy, often imposed by authorities to allow for review, safety, or negotiation
Examples
The government imposed a moratorium on offshore drilling after the oil spill.
Activists called for a moratorium on deforestation in the region.
02
a legally allowed delay in fulfilling financial obligations, especially debt repayment, often granted during emergencies or economic hardship
SpecializedExamples
The court granted a moratorium on loan repayments during the bankruptcy proceedings.
After the hurricane, residents received a six-month moratorium on mortgage payments.
