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About: Debt moratorium

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A debt moratorium is a delay in the payment of debts or obligations. The term is generally used to refer to acts by national governments. Moratory laws are usually passed at times of special political or commercial stress: for instance, on several occasions during the Franco-Prussian War, the French government passed moratory laws. Their international validity was discussed at length, and was upheld in the English law case Rouquette v Overman (1875) LR 10 QB. Debt moratoriums are generally opposed by creditors.

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