moratorium
//ˌmɒr.əˈtɔːr.i.əm//
Noun
moratoriumSingular
moratoriumsPlural
1
A temporary prohibition or suspension of an activity, especially an official or legal one.
The government announced a moratorium on new construction projects.
2
A legally authorized period of delay in the performance of a legal obligation or the payment of a debt.
The bank granted a six-month moratorium on loan repayments for customers affected by the disaster.