Alfonsín began his term with many economic problems. The foreign debt was nearly 43 billion dollars by the end of the year, and the country had narrowly prevented a sovereign default in 1982. During that year, the gross domestic product fell by 5.6%, and the manufacturing profits by 55%. Unemployment was at nearly 10%, and inflation was nearly 209%. It also appeared unlikely that the country would receive the needed foreign investment. The country had a deficit of $6.7 billion. Possible solutions such as a devaluation of the currency, privatization of industry, or restrictions on imports, would probably have proven to be unpopular.