Moratorium is a period of waiting or suspension in the doing of an act. For example, in relation to whether death penalty should be abolished or not in places where it remains a legal form of punishment, a moratorium may be allowed in which no death penalty will be carried out while the debate on its abolition is on-going.

It may also be used concerning payment of a debt and in that case, the payment of the debt will be delayed for some time.
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