Chief among Alfonsín's inherited problems was an economic depression stemming from the 1981-82 financial collapse and its resulting US$43 billion foreign debt, with interest payments that swallowed all of Argentina's US$3 billion trade surplus. The economy recovered modestly in 1983 as a result of Bignone's lifting of wage freezes and crushing interest rates imposed by the Central Bank's "Circular 1050;" but inflation raged at 400%, GDP per capita remained at its lowest level since 1968 and fixed investment was 40% lower than in 1980. Naming a generally center-left cabinet led by Foreign Minister Dante Caputo and Economy Minister Bernardo Grinspun (his campaign manager), Alfonsín began his administration with high approval ratings and with the fulfillment of campaign promises such as a nutritional assistance program for the 27% of Argentines under the poverty line at the time, as well as the recission of Bignone's April 1983 blanket amnesty for those guilty of human rights abuses and his September decree authorizing warrantless wiretapping. Defense Minister Raúl Borrás advised Alfonsín to remove Fabricaciones Militares, then Argentina's leading defense contractor, from the Armed Forces' control, ordering the retirement of 70 generals and admirals known for their opposition to the transfer of the lucrative contractor.