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English definition of “moratorium”

moratorium

noun [C, usually singular]     /ˌmɒrəˈtɔːriəm/ (plural moratoriums or moratoria)
a period of time during which a particular activity is stopped: a moratorium on sth The European Union imposed a two-year moratorium on new GM imports. end/impose/lift a moratorium
(also debt moratorium) FINANCE an agreed period of time during which a country does not have to pay its debt to other countries: An immediate debt moratorium would free resources for poor countries to spend on health and education programmes.
(Definition of moratorium noun from the Cambridge Business English Dictionary © Cambridge University Press)
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