FACTOID # 20: Statistically, Delaware bears more cost of the US Military than any other state.
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Encyclopedia > Moratorium
Look up Moratorium in
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Moratorium may refer to: Wikipedia does not have an article with this exact name. ... Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ...

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moratorium - definition of moratorium in Encyclopedia (282 words)
In law, a moratorium (from Latin morari, to delay) is a legal authorization postponing for a specified time the payment of debts or obligations.
Proponents of a debt moratorium argue that it is a sovereign decision by the government of a nation to suspend payment of debt to its creditors, in the event that to do otherwise would do irreparable harm to the welfare of its citizenry.
A debt moratorium may take the form of a complete cessation of debt payments, or a partial cessation; for example, the government of President Alan Garcia of Peru implemented the so-called "Ten Per Cent Solution", where it was announced that only 10 per cent of export earnings would go to debt payment.
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