&RQVHMRVSDUDOD6ROXFLyQGH3UREOHPDV
£$KRUUHWLHPSR\GLQHUR3ULPHURUHYLVHORVFXDGURVTXHDSDUHFHQHQODV
VLJXLHQWHVSiJLQDV\HVSRVLEOHTXHQRQHFHVLWHVROLFLWDUUHSDUDFLRQHV
$QWHVGH6ROLFLWDUHO6HUYLFLR7pFQLFR«
/HYHULV
VKRZQFORVHG
38//7223(1
6HDOHGEXUQHUPRGHOV
7KXPEVFUHZV
/RZHURYHQGUDZHUPRGHOV
3UREOHPD
&DXVDV3RVLEOHV
4Xp+DFHU
/RVTXHPDGRUHVQRVH
HQFLHQGHQRQRTXHPDQ
GHIRUPDSDUHMD(O
TXHPDGRUIURQWDOGHUH
FKRHVWiGLVHxDGRSDUD
TXHVXVOODPDVVHDQ
XQSRFRPiVSHTXHxDV
HQWUHODVSRVLFLRQHVGH
ODV\ODVHQSXQWR
(VWRHVQRUPDO
(OHQFKXIHHQODFRFLQDQRHVWi
FRPSOHWDPHQWHLQVHUWDGRHQHO
WRPDFRUULHQWHHOpFWULFR
$VHJ~UHVHGHTXHHOFDEOHGHHOHFWULFLGDGHVWpHQFKXIDGR
HQXQWRPDFRUULHQWHFRUUHFWDPHQWHFRQHFWDGRDWLHUUD
/DVKHQGLGXUDVDOFRVWDGRGHO
TXHPDGRUVHSRGUiQDWDVFDU
5HWLUHORVTXHPDGRUHVROLPSLHORVPLVPRV&RQWUROHTXHQR
KD\DFRPLGDTXHPDGDQLJUDVDHQHOiUHDGHOHOHFWURGR
&RQVXOWHODVHFFLyQGH&XLGDGR\OLPSLH]DGHODFRFLQD
(QVDPEOHGHOTXHPDGRULQD
SURSLDGR
$VHJ~UHVHGHTXHODVSDUWHVGHOTXHPDGRUHVWpQLQVWDODGDV
FRUUHFWDPHQWH&RQVXOWH&XLGDGR\OLPSLH]DHQODVHFFLyQ
GHODFRFLQD
/ODPDVGHOTXHPDGRU
PX\JUDQGHVRDPDULOODV
,PSURSHUDLUWRJDVUDWLR
6LODFRFLQDHVFRQHFWDGDDJDV/3FRQWDFWHDODSHUVRQD
TXHLQVWDOyODFRFLQDRTXHKL]RODFRQYHUVLyQ
/RVTXHPDGRUHVVXSHU
ILFLDOHVVHHQFLHQGHQ
SHURHOKRUQRQR
6HSXGRKDEHUPRYLGRODYiOYXOD
GHFLHUUHGHOKRUQRGHIRUPDDF
FLGHQWDOGXUDQWHODOLPSLH]DRDO
PRYHUOR
3DUDFRQWURODUODYiOYXODGHFLHUUHGHJDVGHOKRUQRUHWLUH
HOFDMyQOHD&XLGDGR\OLPSLH]DGHODVHFFLyQGHOKRUQR
3DUDPRGHORVGHOFDMyQGHOKRUQRLQIHULRUUHWLUHHOSDQHOGH
DFFHVRWUDVHURGHVHQURVFDQGRORVWRUQLOORVGHSXOJDUHQODV
HVTXLQDVVXSHULRUL]TXLHUGD\GHUHFKD%XVTXHODSDODQFD
GHFLHUUHGHOJDVHQODSDUWHWUDVHUDGHODFRFLQD
(OFRQWUROGDODVHxDOOXHJR
GHLQJUHVDUHOWLHPSRGH
FRFFLyQRHOWLHPSRGHLQLFLR
2OYLGyLQJUHVDUXQDWHPSHU
DWXUDGHKRUQHDGRRWLHPSRGH
OLPSLH]D
3UHVLRQHODWHFOD%DNH+RUQHDU\ODWHPSHUDWXUDGHVHDGD
RODWHFOD6HOI&OHDQ$XWR/LPSLH]D\HOWLHPSRGHOLPSLH]D
GHVHDGR
/DFRPLGDQRVHKRUQHD
QLVHWXHVWDHQHOKRUQR
VXSHULRU
&RQWUROHVGHOKRUQRFRQILJXUD
GRVGHIRUPDLQFRUUHFWD
/HDODVHFFLyQVREUH8VRGHOKRUQRVXSHULRU
/DSRVLFLyQGHOHVWDQWHHVLQFRUUHFWD
/HDODVHFFLyQVREUH8VRGHOKRUQRVXSHULRU
8VRGHOXWHQVLOLRLQFRUUHFWRRGH
XQXWHQVLOLRGHWDPDxRLQFRUUHFWR
/HDODVHFFLyQVREUH8VRGHOKRUQRVXSHULRU
(OWHUPRVWDWRGHOKRUQRGHEHVHU
DMXVWDGR
/HDODVHFFLyQ$MXVWHHOWHUPRVWDWRGHOKRUQRVXi
JDORXVWHGPLVPR
(OUHORMQRVHFRQILJXUyFRUUHFWDPHQWH
/HDODVHFFLyQ8VRGHOUHORM\GHOWHPSRUL]DGRU
6HXVySDSHOGHDOXPLQLRGH
IRUPDLQFRUUHFWDHQHOKRUQR
/HDODVHFFLyQ&XLGDGR\OLPSLH]DGHODFRFLQD
(OIRQGRGHOKRUQRQRHVWi
FRUUHFWDPHQWHDMXVWDGRHQVX
SRVLFLyQ
/HDODVHFFLyQ,QVWDODFLyQGHODFRFLQD
(OTXHPDGRUQRVH
HQFLHQGH
(OHQFKXIHHQODFRFLQDQRHVWi
FRPSOHWDPHQWHLQVHUWDGRHQHO
WRPDFRUULHQWHHOpFWULFR
$VHJ~UHVHGHTXHHOFDEOHGHHOHFWULFLGDGHVWpHQFKXIDGR
HQXQWRPDFRUULHQWHFRUUHFWDPHQWHFRQHFWDGRDWLHUUD
(OVXPLQLVWURGHJDVQRIXH
FRQHFWDGRRHQFHQGLGR
&RQVXOWHODV,QVWUXFFLRQHVGH,QVWDODFLyQSURYLVWDVFRQVX
FRFLQD
(OTXHPDGRUGHOSXHQWHQRVH
HQFLHQGH
&RQVXOWHODVHFFLyQ&yPR,OXPLQDUHO4XHPDGRUGHO3XHQWH
SDUDHO0RGHOR3*%