An April 1985 Ministry of Defense report estimated that the total foreign debt of military-related corporations — including those under the jurisdiction of the Ministry of Defense, the armed forces, and the National Antarctic Department — totaled close to US$4 billion at the end of 1984. Of this debt, it was estimated that close to US$1 billion — an amount equivalent to approximately 1 percent of GDP — would have to be paid off each year between 1986 and 1988, in accordance with agreements on the refinancing of Argentina's foreign debt.