*($SSOLDQFHVFRP
3UREOHPD
&DXVDV
SRVLEOHV
4Xp
KDFHU
´)³\
XQQ~PHUR
R
7LHQHX
QFyGLJR
GH
3UHVLRQHHO
ERWyQ&OHDU2II
3HUPLWDTXH
HOKRUQR
VH
OHWUDµSDUSDGHDQ
HQ
HUURU
GHOD
IXQFLyQ
HQIUtHGXUDQWH
XQDKRUD
3RQJDHO
KRUQR
QXHYDPHQWHOD
SDQWDOOD
HQR
SHU
DFL
yQ
6LHO
FyGLJRGH
OD
IXQFLyQ
'HVFRQHFWH
OD
FRUULHQWHGHO
KRUQR
GXUDQWH
VHUHSLWH
VHJXQGRV
\FRQHFWH
QXHYDPHQWHOD
FRUULHQWH
6LHO
IXQFLyQVH
UHSLWHOODPH
SDUDVROLFLWDU
VHUYLFLR
GH
PDQWHQLPLHQWR
/DSDQWDOOD
VHSRQH
6H
KDIXQGLGR
XQ
IXVLEOH
5HHPSODFHHO
IXVLEOHR
UHDMXVWHHO
FRUWDFLUFXLWRV
HQEODQFR
HQ
VXK
RJDUR
ELHQ
HOFRUWDFLUFXLWRV
QRHVWi
IXQFLRQDQGRFRUUHFWDPHQWH
(OU
HOR
MH
VWi
HQ
HOP
RGR
&RQVXOWHOD
VHFFLyQ
&DUDFWHUtVWLFDV
HVSHFLDOHV
GH
GHDSDJDGR
FRQWUROGH
VXKRUQR
/DSDQWDOOD
SDUSDGHD
)DOODHQ
HOVXPLQLVWUR
5HLQLFLH
HOUHORM
GHHOHFWULFLGDG
,PSRVLEOHORJUDU
/RVERWRQHV
GHFRQWURO
GHO
/RV
ERWRQHV
%DNH
\%URLO
+L/RHQ
PRGHORVGH
KRUQR
ODSDQWDOOD
PXHVWUH´6)µ
KRUQRQR
IXHURQSUHVLRQDGRV
GREOHXVH
ORV
ERWRQHV
GHO
KRUQR
VXSHULRU
GHEHQ
DSURSLDGDPHQWH
VHUSUHVLRQDGRV
TXHDO
PLVPRWLHPSR
\V
RVWHQLGRV
GXUDQWH
VHJXQGRV
$SDUHFH´3UREHµ
(VWROH
UHFXHUGD
LQJUHVDU
,QJUHVH
XQDWHPSHUDWXUD
GHVRQGD
HQOD
SDQWDOOD
XQDWHPSHUDWXUD
GHVRQGD
GHVSXpVGH
HQFKXIDU
ODVRQGD
&RUWHHQ
HOVXPLQLVWUR
3LFRR
FRUWHGHO
VXPLQLVWUR
5HLQLFLH
HOUHORM
6LHO
KRUQRHVWDED
HQXVR
HOpFWULFRHO
UHORM
HOpFWULFR
GHEHUHLQLFLDUOR
SUHVLRQDQGR
HOERWyQ
&OHDU2II
SDUSDGHD
FRQILJXUDQGR
HOUHORM
\UHHVWDEOHFLHQGR
FXDOTXLHU
IXQFLyQ
GH
FRFFLyQ
6DOHYDSRU
&XDQGRVH
XWLOL]DOD
FDUDFWHUtVWLFD
(VWR
HV
QRUPDO
GHOUHVSLUDGHUR
SRUFRQYHFFLyQ
HVQRUPDO
YHUYDSRU
FXDQGRVH
XWLOL]D
VDOLHQGRGHO
UHVSLUDGHURGHO
KRUQR
&RQIRUPH
DXPHQWDHO
Q~PHUR
GHSDUULOODV
ROD
FDQWLGDG
GH
DOLPHQWRV
TXHHVWiQ
VLHQGR
FRFLQDGRVDVt
PLVPRDXPHQWDUi
OD
FDQWLGDGGH
YDSRU
YLVLEOH
2ORUD
´TXHPDGRµ
R
(VWRHV
QRUPDO
HQX
QKRUQR
3DUD
DFHOHUDUHO
SURFHVR
FRQILJXUHXQ
FLFORGH
´DFHLWRVRµVDOLHQGR
QXHYR\
GHVDSDUHFHUiFRQ
DXWROLPSLH]DGXUDQWH
XQPtQLPR
GH
KRUDV
GHOUHVSLUDGHUR
HOWLHPSR
&RQVXOWHOD
VHFFLyQ
8VRGHO
KRUQR
DXWROLPSLH]D
2ORUIXHUWH
8QRORU
GHODLVODPLHQWR
(VWR
HVWHPSRUDO
DOUHGHGRUGHO
LQWHULRUGHO
KRUQR
HV
QRUPDOODV
SULPHUDV
YHFHV
TXH
VH
XWLOL]DHO
KRUQR
6XHQDXQ
YHQWLODGRU
8QYHQWLODGRU
GHHQIULDPLHQWR
(VWR
HVQRUPDO
(OYHQWLODGRU
GHHQIULDPLHQWR
RXQ
YHQWLODGRU
GHFRQYHFFLyQ
VHHQFHQGHUi
SDUDUHIULJHUDU
ODVSDUWHV
LQWHUQDV
GHSHQGLHQGRGH
ODIXQFLyQ
3XHGHIXQFLRQDU
GXUDQWH
KRUDV
GHVSXpV
TXH
TXHHVWp
XWLOL]DQGR
SXHGH
HOKRUQR
HVWp
DSDJDGR(O
YHQWLODGRU
GHFRQYHFFLyQ
HQFHQGHUVHDXWRPiWLFDPHQWH
IXQFLRQDUi\
VHDSDJDUi
KDVWDTXH
OD
IXQFLyQWHUPLQH
ROD
SXHUWDVHD
DELHUWD
