moratorium

/ˌmɒrəˈtɔːriəm/ noun [C, usually singular] (plural moratoriums, plural moratoria)

Definition

› 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)