GFCI: Ground Fault Circuit Interrupter
AFCI: Arc Fault Circuit Interrupter
They do different things. If the arc happens between the hot and ground, you're probably protected, if it's between hot and neutral, probably not. [Needs an electrician to confirm - I haven't had coffee yet this morning.]
If you're worried about arc faults in your older wiring, you'll need to update to new breakers that will protect against both (if they're made for your panel), or replace GFCI breakers with AFCI breakers, then install GFCI protection as the first device (could be the first outlet, or a "dead front" which just has the
Reset buttons and the electronics, but no receptacles) on each circuit that needs them.
However, I'm not clear on your statement:
they put GFCI breakers on every circuit just outside of the electrical panel
Breakers get installed inside the panel. If your electrician installed a breaker outside the panel, you'd better call your local building inspector, have him look at this installation and pull the "electrician's" license. You may also want to consult a lawyer to get your money back from said "electrician".
If the electrician installed GFCI receptacles at the first position on every outlet run, however, you're good to go. Just install AFCI breakers in the panel, and you'll have both protections.
A general precaution on putting GFCI/AFCI protection on every circuit: many appliances can cause false trips of AFCI breakers, which will lead you to resetting the breakers for no good reason. If your fridge is on a protected circuit that's busy with nuisance trips, and the breaker trips right after you leave in the morning, your fridge will be without power all day, which can be bad for the food inside. Please search this site for other tips and suggestions about this topic - there's lots of info here already.
Also, if you have an older house, you are probably critically short on circuits, so you probably can't afford (outlet wise) a dedicated circuit for the fridge to avoid the nuisance trip issue.