Saturday, January 3, 2015


Moratorium [ mawr-uh'-TWAR-ee-uh'm ]
 noun ]
 1. an authorization to a debtor permitting the temporary delay or suspension of payments
2. a period of delay agreed to by parties who are in the process of negotiating
3. a suspension of the ongoing performance of an obligation
 The finance minister sought a moratorium from the World Bank so that the money could be diverted and spent on disaster management instead.