Editing Leopoldo Galtieri (section)

===Economic policy===
Galtieri appointed [[fiscal conservatism|conservative]] economist and publisher [[Roberto Alemann]] as [[Minister of Economy (Argentina)|Economy Minister]]. Alemann inherited an economy in deep recession in the aftermath of [[José Alfredo Martínez de Hoz]]'s economic policies of the late 1970s. Alemann slashed [[public spending|spending]], began selling off government-owned industries (with only minor success), enacted a tight [[monetary policy]], and ordered salaries frozen (amid 130% inflation).<ref name=LewisB>Lewis, Paul. ''The Crisis of Argentine Capitalism''. University of North Carolina Press, 1990.</ref>

The [[Central Bank of Argentina|Central Bank]] Circular 1050, which tied mortgage rates to the value of the [[US dollar]] locally, was maintained, however, leading to further deepening of the crisis; GDP fell by 5%, and business investment by 20% over the weakened levels of 1981.<ref>''Argentina: From Insolvency to Growth''. World Bank Press, 1993.</ref>

One of Galtieri's closest allies, the head of the First Army Corps, General [[Guillermo Suárez Mason]], was named Chairman of [[Yacimientos Petrolíferos Fiscales]] (YPF), at the time the state petroleum concern, and the largest company of any type in Argentina. Suárez Mason's role would contribute to a US$6 billion loss for the company, the largest recorded corporate loss in the world, up to that point.<ref>Poneman, Daniel. ''Argentina: Democracy on Trial.'' Paragon House, 1987.</ref>