You are on page 1of 320

+LVWRULD

ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

\(FRQRPtD


B6$17,//$
U

a
aUD8&$
'( 
S
a

O
ž¢

a
0,
1,67(5
,2'(
('
8&$&
,Ï1

+LVWRULD *HR
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

\(FRQRPtD
 6(&81'$5,$

(OWH
[W
R
HVFRO
DU
+LVWRU
LD*HRJUD
It
D\(FRQR
Pt
D SDUD HOJ VHJXQGR
UDGRVHF
GH
XQGDUL
D
HV XQD
REUD
FR
O
HFWLYDFRQFH
ELGD
GLVHxDGDGHVDUUR
\
OODGD
HQ
HO
'HSDUWDPHQ
WR
GH
(GLF
L
RQHV
GH 6DQWLOO
DQD
6$
SRU
HOVLJXLH
QWH HTXLSR
GH
HVSHFLDOLVWDV


&HFLOLD
0HMt
D
'L
U
HFWRUDO(GLWRULD

$GD 0XxR]
(G
LW
RU
D5HVSR
QVDEO
HGHO$UHD

'DYLG-X
%OD]
DQ
)RQVHFD
(G
L
WRU
HV
(MH
FX
WLYRV

-RV
p
9iVTXH]
/XLVD
9L
]FDUUD
(G
L
WRUH
V

/LOLDQ
D
3pUH]
(VSHF
L
DOLVWD GHÈUHD

5DIDHO
0R\
GH
$UW
-HIH H

3DWULFLD
6RUL
D
'LD
JU
DPDF
LyQ

:LOPHU
3DVDFKH
$SR
\RG
HQ
LDJUD
PDFLyQ
)RWRJUD
It H
DVL
OXVWUDFLRQHV
-XOL
R&DQGHO
D 7RGDVODV
LPiJH
QHV
H
LO
XVWUDFLRQHV D
6
SHUWHQHFHQ
DQWL
OO
DQD
6
$

&RUUHF
WRU GH HVWLOR VD
OYR
ODV
LQ
GLFD
GDV
FRQ
HO
QRPE
UH
GHODXW
RU


&pVDU
&RUWH]
/tPEHU
OR]D
QR - RVp
/XL
V
6DQWD
&U
X] ‹
 6DQWLOO
 DQD
6
$
ÒUVXOD
0HW]JH
U
-XOO
VVD(VSOQR]D 
0DUFR
5RQFD
O 6DQWLOODQD
6
$
3DWU
L
FLD
0XUR $Y
3UL
PDYHUD


6DQW
LDJR
GH
6XU
FR/
 LP
D

3HU
~
&ROD
ERUD
GRU \
HV DSR
\R
HGLWRU
LDO 7HOp
IR
QR



'DQLHO -LPpQH] 3U
LPHUDHG
L
FLyQGLF
L
HPEUHGH
O

'RFX
PHQ
WD
OL
VW
DJU
iIL
FR 7LU
DM
H

HMHPS O
DUHV

'D
SKQH $YLOpV ,PSUHVR
HQ
HO
3HU
~I
3ULQWHGLQ3H
UX
5HWRFDGRUD
IRWRJ
U
iILFD 4XDG*UDSK
L
FV 3HU~
6$
&DUORV
0DOiVTXH] $Y
/RV
)UXWDOHV


$WH/LPD
3
HU~
,O
XVW
U
DFL
yQ
\FD
UWRJ
UDIt
D
,6%1 



-DLPH *DPDUUD 5HJLVW
UR GH
3UR\HFWR
(GLWR
UL
DOQž


-HI
H
GH
3UR
GXF
FLyQ +HFKR HO'H
SyVLW
R
/HJD
O
HQO
D%LEOLR
WHFD1DFLRQD
O
GHO
3HU~
Qž

6HUJL
R
0RUDO
HV
$VL
VWH
QWH
GH
3URGXFF
LyQ 7RGRV
O
RVGHUHFKRVUHVH
UYDGRV

(VWD
SXEO
LFDFLy
QQRSX
HGH
VHUUH
SURGXF
L
GD
QL
HQ
WRGR QL
HQSDUW
H
QL
UHJLVWU
DGDR
WUDQVPLWL
GDSRU
XQVL
VWHPD
GH
$UFKLYR HGLWRULDO UHF
XSHUDFLyQ
GHL
QIRUPDFLyQ

HQ
QL
QJ \
XQDORUPD
SRU
QLQJ~
QPHGLR
VHD
)RW
RJU
DIL
DV F
GH
DUi
W
XOD PHFiQL
FR I
RWR
TXLPLFRH
 HFW
OUyQ
LFR
PDJQpWLFR

HOHFW
UR
ySWL
FRSRU
 I RWRFRS
L
D
R
FXD
OTXLHURW
UR
V LQ
HO
SHUPL
VR
SUHY
L
RGHOD(
GL
W
RUL
DO
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

3UHVHQWDFLyQ
(OW
H[WRODU
HVFR
+LVWRU
LD
*HRJU
DItD
\
(FRQRPtD
HVWi
GL
UL

JL D
GR OR
V
HVW
XGL
DQW
HV
GHOVHJXQ
GR
JUD
GR (
GH
GXF
DFLy
Q6HFXQ
GDU
LD

)LQDOLGDGGHO
iUHD
(OiUHD
GH
+LVWRUL
D*HRJUDL
D\(FR
QRP tD
WLHQH FRPR
IL
QDOL
GDGFRQVW
ODUXFFL
yQGH
ODL
GHQWLG
DG
VRFLDO\
FX
O XUD
WOGHORV
DGROHVF
HQWHV\
MyYH
QHVDV
tFR
PR
HO
GHVDUUR
OOR
GH FRPSHWHQF
L
DV TXH
SU RSLFLH
QHO
HMHUFLFLR
FL
XG \
DGDQR ODYLG
D
GHPRFU
iWL
FD

/DV
FRPSHW
HQFL
DV
GHO
iU
HD
&RQ
VUW
X\HL
QWH
US
UHWDF
LR
QHV $FW~D
U
HVSRQV
DEO
HPHQ
W
H $FW
~D
UH
VS
RQV
D
EOH
UQH
UQH
UHV
SHFW
R
KLV
WyUL
FDV HQ
HO
DPE
LHQ
WH D
ORV
U
HFX
U
VRV
HFRQyP
LFR
V
)DFL
OLWD
Q
(O
HMHU
FLFLR
FL
XGDGDQR
\
O
DYLGD
GHPRF
U
iWLFD

3DUDHOORJ
UR
GH
ODV
FR
PSH
W
HQFLDVGHO
iUHD
GHEHU
iV
GHVDU
UROO
DUFD
SDFLGD
GHV
FRPR
ODV
VL
JXLHQWHV
‡
&RPSU
HQGHU
TXH
U HV
HSU
RGXFW
R
GHOSDV
DGR

SHUR
XH
D
TOD
YH]
FR
QVW
U
X\HV
GHV
GH
HO
SU
HVHQ
WH

WXIXWX
UR

‡
(ODERUDU
H[S
OLF
DFLRQ
HVKLVWy
UL
FDV
EDV
DGDV
HQ
OD
L
QWHU
SUHWD
FL
yQ
GH
IHQW
X HV
\O
DFRPSU
HQVL
yQGHO
W
LHPSRKLVW
yULFR
‡
([SOLFD
UODV
L
QWH
UDFFL
RQHVHQ
WUH
ORVO
HPH
H QRV
W QDW \
XUDOHV
VRFLD
OHV
EDVH
SDUD
OD
HYD
OXDFL
yQGHSUREO
HPiWLF
DV
DPE L
HQWD
OHV
\W
HU
UL
WRU \
LDOHV
ODV
VL
WX DFLR
QHV
GH
UL
HVJR
‡
&RPSUHQGHUO
DV
UH
O
DFL
RQH
VHQW
U
HO
RVDJHQ
W
HV
GH
OVVW
LHPD
FRQ
HyP
LFR\
IQDQFL
L HUR
FRQ
HOI
QL
GH
TXH
SDUW
L
FLS
HV
HQ
pO
\JHVW
L
RQHV
ORV
U HFXU
VRV
UHV
SRQVD
EO
HPHQWH

/DV
FRP
SHWHQ
FL
DV
PHQFLRQDGDV
LPSOLFDQ
HO
GHVDUUR
OO
R
GHO
SHQ
VDPL
HQW
RFUt
WL
FR
\
OD
L
QGDJ
DFLy
Q

(OSHQVD PLHQWR FUtWLFR


WH SHUPLWUi
LDQDO
L]DUH /D
LQGDJDFLyQ
KDU
iSRVLEOHTXHDGT
XLHUD
V
QXHYRV
LQWH USU
HWDUO
DLQIRUPDFLyQ UHDOL]
DU
LQIH
U
HQF L
DV FR
QRF
LPL
HQWRVFRQ DXWRQRP tD
\
GHIU
RPD
HO DERUDUH[SOL
FDFL
RQHV EX VFDUDOW
 HUQDWL
YDVGH FRODERU
DWL
YD
DSOL
FDQGRO
RV SDVRV
G OD
H LQYHVWLJDF
LyQ
VROXFLyQ
DVXPLUXQDSRV LFLyQ\WRPD
 U GHFLV
LRQHV FL
HQW tIL
FD
SDUDVROXFL
RQDU O
RV SUR
EOHPDV

3URSyVLWR
GHO
WH[WRHVFRODU
(O
WH[W
RHVFRO
DUWL
HQHFR
PRSUR
SyVLWREULQGDUWH
LQIR
UPDFLyQ
SODQWHDUWH
VLW
XDFLRQHV
VL
JQLILFDW
L
YDV\PHW DV
TXH
GHEHUi
V
DOFD
Q]DU &RQVW
DGH
QXHYH LXQ
GDGHV
HQODV
TXH
VH
GHVDU
URODQORVFDPSR
VW
HPiW
LFRV HOiG
UHDGH
+LVWR
ULD
*H \
RJUDIUD(FRQRP t
D
SURSXHVWR
VHQ
ODV5XWDV
GHO
$SUH
QGL]DM
H
/RV
FRQ WHQLGR
V
GHOW
H[WR
HV FR
O
DUFRQVW
LW
X\HQ
HO
VRSRUWH
SDUD
WUD
ED
MDU
O
DV
FRPSHWHQFLV
D\FD
SDFL
GDGHVGHO D
iUHDW
UDYpV
GHODV
DFW
LY
L
GDGHV
SOD
QWHD
GDV
HQO
FXDG
H HUQ R
GHWUD
EDM
R

7H
LQYLW
DPRV
D
VHUPHMRU
H GH
RFXG
VLDGDQ RV
D
F
RQRFHUL
HQWHUSU
HWD
U
KHFKRV
KLVWyULFRV
\
DGXDU
FRQ
UHVSRQV
DELOL
GDG
U
HVSHFW
RDO
DPE
LH
QW
H
HQ
HO
TXH
WH
HQFXHQWU
DV
\
ORV
UHFXUVRV
HFRQyPL
FRV
(VWUXFWXUD
GHOWH[WR HVFRO
(O
WH[WR
HVFR
O
DU
+LVWR
UL
D*HRJ
UDI t
D\(
FRQR
PtD
VWi
H RUJDQL]DGRQXHYH L
HQ
GDGH
XQ V&DG
D
XQL
GDGW
H
SUR
SRQHPHWDV
TXH
DOFDQ]DU
iVPHG
L
DQW
HOH
GHVD
UUROORO
DV
FRPSHWHQFLDV
GH iU
HD GHO
TXHW
LH
QHQ
FRPRVRSRU
WH
ORVL
IHU
GHQWHV
FDPSRV
WHP
iWLFRV
SUH
VHQWDGRV
HQ
HOO
L
EU R
(Q
FD
GD
XQ
LGD
GH
QFR
QW
UD
UiV
ODV
VLJ
XLH
QWHV
VHFF
LRQHV


6HFFLyQ LQLFLDO

6LWX
DFLy
Q
VLJQLILFDWLYD
-
+LO
RFRQ
GXFW
RU TXHDSD
UHFH
UiHQ
H
GHVDUUR
OO
RGHO
DXQLGDG

([SDQVLyQHXURSHD
EDVHVGHOPXQGR
\ (Q VHFyyQ VHSUHVHQWD
HVWD XQW
H[WR
TXH
ā

ā
B
aāB 
FRORQLDO

B
ā āā
 a
B
aā 

3O
DQWHD
XQD
HVWXGL
DQWH
VUWX
\
TX
D
H
RyQ
WHL
FH
QHFR
PR
DO
UFDQD
RE-
HWLYR

a



B B
a
a



aa 
B UHF OR
XSHUDU V
VDEHUHV
SUHYLRV
\PRWLYDU
āāā
āa 

aā
ā
āā
ā
ā
B 
āāāā




ā 

aaā
aLa
a

&RQHFW
D
FR QHO
FDPSRWHPiWLFR
TXHVH
YD
D
GH
VDUUR
OO
DU



B
Â
Âa


B 



a
ā ¢a
aB

 

&R
QVWLWX\H
HFQ
R
xLFWR
FRJQ
LW

<2





IL 
ā

-'
 ā

B




āā

B


ā
‡āāā
B

 U
a


B




Ba
IR
UPX
O D
DGR
SDUWLUO
D
GH VW
XDRyR
VL
JQLFDWLYD
IL

āāaāāU



aaā

a ā

ž
 āB
 7/
B
ā" 0

 
a 
a


 †
B
a
†a†(
OQWHQFLRQD
OL
GD
GSHG
Dy
JJL
FD
 ā



a 0H
WDV
TX
HRUL
HQWDUi
R
OD
F
RQVWQ[F
H yQ G
WDSUH
X QGL]DM
H
(QOD
VHF
FLyVH
Q HVWDEOHFH
OD HQWH
UHODFLyQUODV
F
RPSHW VXV
HQFLDV
&RQFH
SW
RV
FODY
H FDSDFLGD
GHV
\ORVFDP
SRV
WHPi
WL
F
RV
TX
H
$V
SHFW
RV
TXH GV
VH H
DUUR
OO
D
Q OD
HQ XPG
D
GD
\SDUW
L
U OV
GH RF
XDOHV VH HQ
DERUGDQ F
HQ
OD VHFF
yQ WUDO
FR
QVWU
XL DS
UiV
WXUHQ
GL]D
M
H

6HFFLyQ
FHQWUDO
,QW
UR
GXFFL
yQ
'HV
FU
LSF
LQ
yGH $
&R aWHQL
GRV
ORV
WH
PDV
TXH ,1
āā
OQ
U

B
B
RGXFLRR
(O
B

0HGLHY
R


B 9
UHJLRQDO
HV

BB B


aBaF

U 
B 

B
aB 

VH
WUD
WD
UiQ
\
VX ‡
 B

‡

H 
ā
a
B

B B
B
(VW
XGLR
GH
GLIHUH

O
W
HV
B
a


B

, B


B

B
W 

 BBB
a


B  UH
PDV -
2EO
\ HPiWLF
DV
U
HODF
LyQ
FRQ
OD BB
 
aa
BB
VLW
XDFLy
QVLJQLIL
FD
W
aD UH
JL
RQDOHV
?
PF~DG
R V

(O
QDFLPL
H
QWR
GHO
PXQGR
PHG
L
HYDO
SODQW
HD
GD FR
QO

DVLWXDyyQ

BBB VLJQLILF
DWLYD
B
(VWR
V

āā 
B
B
a


  B ā FR
QW
HQGR
V
HVW
iQ




 



H‡
‡,BB

a  B
 B ā
L

ā
9

aa
ƒ a‡
,Q
IR UP DFLyQ
E iV
LF
D a
O


B



‡ 
BB B GtULJ
L
GRVI
RUWD
D
O
HFHU

‡‡ B 
0 ‡‡

‡ 

a
 

BB  a


KB

 



B 
B
 B

B 
 ā

HO
GHVDUUR
O
OR
GH
OD
([S
OLFDFL
yQ
SUH
FLVD 
?


 
B B

a
a
a







\
RUJDQL]D
GD ORV
GH



I:
‡

B

a 

ā

‡











āā

BBB 
BB Q
WHUFX
OWX
UD-GD
G
a 

Ba

a
LX 

I B

 

B  
a
B
B

a 

WW
ā?
 aU
B

‡
L

FR
QWHQLGRV ORV
GH a



aaU
a

 
 
 Ua
FD
PSR V
 




a
ā
ā 
HH$SU
HQG HPRV
WHPiWL
FRV  


a

aB
ā

BBB
a
ž
 ‡D
VHU
FL
X GD
GDQRV
3UHV
HQWDPDSDV
Ot
QHDV 
a¢ ā

a 
aa
B

B
B



 BB
B


QKa



‡āQ‡‡
7 H
PDV
TXH
IRUW
DO
HFHQ
GH
WLH
PSR
J
UiILFRV 
 
aaaaa
 a
HVWD
Gt
VWLVI
FR RWy
JUD
IDV
 
ā 


B

BB
 a

B
BB 
BB




 BB

aa

W
a
ā HO
ā a

I(IR
ā GHVDURO
O
R GH
ODV
FRP
SHW
HQ
FLDV
HWF
pWHUD
H
UGDG
D
O
DV
/D
LQIRUPDF
LyQHVW
i
DGHFXDG
DPHQWH $G
HPi
V
‡
DU
W
\
LFX
GRV
ODGD
LIL
FD
GD

M
H

UDUT
XL]
DGD OL`
5HF
XUVRV
UHOD
FLR
QDGRV
FR
Q ‡
(VWXG
L
RRH
FD
VRV
O
DV VLJQLILFDIRD
LWXDyyQ ‡
£
6DE
t
DV
TXH

"
‡*ORVDULR

BBBB
B


B 
a
5HFXHUGRTX
H
QRGH
EHV
HVFULELU
HQ
HV O
WHL
EUR
£&XtGDO
R

'RFXPHQWRV
SUR
IXQ
SDUD
GL]
DU

'RFXPHQWRV
SDUD
SURIXQGL]DU

a






‡&F
GQ
 

 
 

ā a
BBBB 
 
aa



2‡


-



a

 



a


B a

BB
B
a a

 



UaOOaU
)XHQ WHV
TXH DPS Ot
DQ āā āā







  \


 





a a




 ā
B



‡‡
U
L


 B
B

\FRPS OHP HQWDQ B


‡ Kƒ
‡


:

8

OD
LQIRUPDFLyQ Ba

‡
B


  a ā



 
‡
‡‡‡<
!OWWOU! B

B BB a




‡‡

 W!



  a ā



aaa
ā
3XHGHQ VHU  


ā
ā

a
 ā
a 
B
   BB
7H[WXDOHV JU
R iILFDV


ā 

‡3ULPDULDV 




 
H
‡ā

ā 
Xaaaāa
II


B
ā
ā‡āā


8

8
‡   


BB
ª
-


RVHFXQGDU LDV 
aa 

 



 
aÂÂ 

BBB
5HFXUVRV SDU
U  DPSOLDU
‡ $FDGpPLFDV
SHQRG t
VW

LFDVHWF
  ā
a
a





 5HF RPHQ GDF L
RQHV
GH

B
‡ X a 

 



a


I
?
‡
W8


ƒ




B
a
Z

‡ VLWL
RVZHE ELE
 OLRJUDLLD
ā 


ā
ā 


LO
‡‡

āāā
 B



!
aaa





 
 
a 





B a

 !ā‡
W-



B HVSHFLDOL
]DGD PDW
HULDO
££

‡‡
‡



B B
B

 aa
 X
 āā
!




ā 
B

aāā
ā
aā a B
B a 

\
  
a a
āāā
āa
aaa
a?ŠD

‡

 ‡
ā
‡






   B
   ‡ā

 a 



UDXGLRYLVXDO

a aa
?

 

 


  ILO


aa


  
aāāa"





a 










 
B



R 



a

X


 
 7H[WRVGHORV
"aW
aa"
ā]
L(
a"a"ā a
 a
PyG
XORV
GH
EL
EOLRWHFD
GH
VHFXQGDU
LD

6HFFLyQ ILQDO
$F
WLYLGDGHV
LQWHJUDFLy
GH
Q

6H
FFLyQ
TXH
SUHVHQ
W
DODVLJ
XL
HQWH
HVW
U
XFWX
UD
&XLRWOO
OG
-
NO
a

W
O
LW 
I
OL-O ?OOOOOO
R

SUWY
‡
YG
yQ
-‡
‡
LDW 

aa
aāaaB
F
‡ WR

 
BB B
B



a



£

 

āāāāāB



BB


B

B

BQ


ƒ

B

W!: B
āā



 B
a  




aa a  





R B

āa
ā
 aa
L āā

  a
 
aāāāā‡‡



W
a
 ‡U
 

āā ā 
aa
āā
ā‡
BB
£
B
‡‡‡
$FWLYL
GDGHV
TXH  
āa

 a

£
aāā ā W-Ma
a aā

BB
B
‡B
B
 B ‡ 
a
a
 B‡
‡^9

‡




a 

a

a

a

FW‡

O !
-£R
Y ‡ a
 B 

B


B
  
B a BB  
DIL
DQ]DQ
HO
GHVDUUROO
R 
W


aā
ā
ā
FD
GH GD
XQDGH
ODV ā ā

ā


 



aa






B



B 
 a

 

FDSDFL
GDGH GH
V ODV aIaW
ā aWaVa

aIO
FRPSH WQ
HFL
DV
GHO
iUHD



 
a




aa
ā
aa
 
W
]


X
BB

7H[WRUHODFLRQDG
R 
a
 
a 

a
 
āa


aa a
 B

 1RV
DXWRH
YD
OXDPRV
āa
FRQ O
DVXLW
DFL
yQ 
āaOL

‡
  
‡
£
2£
UL


XUW



B

OR


   B
DaI

 

aB


B āa 
‡
£
O
O


VLJQLIL
FDWYD
L 


BB ā
ā


B





  







Y



a
<
?I
!BO
B
O
1
‡
āZ
O6
āa©āā
0
‡?W

!
! ‡‡
8B

aZaā

‡

ā
āa
] 
B  
 B

aaaa


 
 
 
B
 
 S

ÂaÂ








‡
‡

£


/RTX
H
DSUHQG t
DXWyQRPD PHQ WH /R
TXHD
SUHQGLPRV
HQ
HTXLSR
3UH
J SDU
XQWDV D
DQDOL]D
U GHVHPSH
HO xR 3UH
JXQWDV
GL
UL
JL D
GDVHYD
OXDU
HO

GHVHP
SHxR
SHUVR \
QDOHO
QLYHO
GHO
RJURDOFDQ]DG
R HQ GHVDUUR
HO OOR
GHO
WUDED
MR
FR
ODER
UDW
L
YR
L HQ
DO
JXQRV
LQGLFDGRUHV
 \
FRRSHUDWLYR


O


a
I? (Q
ODV
SiJLQDV
ILQ
DOH
V
HO
WH[W
R
HVFR
ODU
SUH
VHQWD
OD
EL \
EOLRJUDIt
DORV
VL
WL
RV
ZHE
FR
QVXOWDGR
V
DO
HODERUD
UO
R
H

O
7DEODGHFRQWHQLGRV
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
(O
QDFL
(W
PLHQWR
,PSHULRE‡]
GHO
PWLQ
PXQGR
R
PHGLHYDO 
/D

FL
YL
2&LHQF
OL
]DFLyQ
LD\FX
LVO
OWX
iP
UD
LFD
LVO
iPLFD


‡
‡
(O
OPSHQR FDUR OLQ
JLR 'RFX PH QWRVSDUD
SUR I
XQGL 
]DU
  ‡OD
PXMHU
HO
HQLVDP
(O0HGLHYR 
 (O
PXQ GR HXUR SHR HQHOVLJO
R;, 
W,\
DUWH
HOSRGHU
'RFXPHQWRV SDUDSUR IXQGL ]DU  
 
SROtWLFR

(O
PXQGR IHXGDO  ODV
FU
X]DGDV 
JX HQ
HUUDV QRPEUH 

OG
HFRQRP t
DIHX GDO  GH
OD
IH

(O
SRGH U
GH OD,JOHVLD  (O
UHQ
DFLPLHQW
RFXOWX
UDO 
8(O
UHQDFLPLH QWR XUE DQR -
- O D
DUT
XLWHFWXUD
UR \J
PiQLFDyWU
FD 
'RFXPHQWRV SDUD SURI XQGL]DU 
  'RF XPHQWRVSDUDSUR
IXQGL]D

U   

LQLFI


 (O
FRODSVR
GHO
PXQGR HYDO 
PHG
L /D
5HIR \
UPDHO
FLVPD
UHOLJLRVR 
 /D
IRUPDFL
yQGHO
(VW PRGHUQR VR
DGR /D
&RQWUDU
UHI
RUPD 
8QDQXH
YDIRU
PD
GHSHQVDU
  
/D
SROt
W
FD
HXUR
SHD
GHO
VLJOR;9, 
HO
KXPDQLVPR 'RF
~UQHQW
RV
SDUD
SU
RIXQGL]DU 
  

'RFXPHQWRVSDUDU  
RIXQGL]DU
S  
ā

(O
5HQDFL
PL HQW
R 2/DV
FL
YLO
L]DFLR
QHV
I
XHUDGH
(āLURS
D 
6
(O
&tQTXHFHUQR O(O
,PSH
UL
R PRQJRO 
5H
(O QDR
UQOHQW
R

X ,WDOLD 
HUDGH O
 HYRO
/D XFLyQ
GH
O
RV
LP
RHULRV
ai
W 
OFRV


'RFXPHQWRV
SDUD 
  
SURIXQGL]DU 'RFXPHQWRV SDUD   

SURIXQGL]DU
ā ā‡
ā
 ā 
ā ā

ā
6HFFLyQ
ILQDO 


 (O
RUL
JHQGH
RV
LQFDV &RV
 PRYLVLyQ
L
QFD D"?
LFD
? 
$U
HTXLS
D

 (O
VXUJ
LPL
HQ W
R
GHO
,PSH
UR
L FR /DV
LQFD
L GYLQLG
DGH
V
LQFDV 
&X
VH
R
'R FXP HQ
WVRSDUD   
SURIXQGL]DU  /D
 DUT
XLW
HFWXUDLQ
FD  $SXQPDF
(O 
%OHJD
GRFXOWXUD
O
LQFD  / /LPD
7DKXDQWLQVX
\R 'RFX
PHQWRVSDUD
SURI XQ 
 
GL]DU
 
UHJURQ

2UJDQL]DFLyQ GHO
/D X\R 
REUDV  2/DV 
DGP LQLVWUDF
L
yQ
GHO
7DKXDQE
QV  FXOWXUDV
PHVRDPHULFDQD
V
WUDED
MR
\
S~E
OL
FDV 
/D
VRFLHG DG
LQFD  
 / PD
RV \DV  7U
DED SDUD
DQGR

/D
HFRQRPt D
LQFD
LD
F 
 /D
F
XOWX
UD
D]WHFD  EHQ
 XQ FRPM
Q
'RFXPHQWRV SDUD
SURIXQ 
 
GL]DU 'RFXPHQWRV SDUD
SURI 
XQGL]D
U  O
,/

R
([SDQV
L


yQ ‡O
/DV
(O
H[SO
GHVF

 /R
RU
XEU
VYL
DFLR
PHQW
D£
HV
QHV
GH
GHO
R
GH
H[SH
G[
VLJO
L
R
$PpUL
pQ
;<
FD






$
(O
'H
OD
W
FRQTXL
HUFHU
FRQTX
9L
VWD
DH
GHI
MGH
LVW
DG
7DKXD
3LLD
RUHV
QW
UUR
DH
QFRP
LQVX\R #?

HQG V 
HUR
&D£DUPUFD
?`
MX
QtQ
/RU
HWR

HXURSHD-
EDVH
/R
V HQ
VHIH
FW
$PpUL
RV
FD
GHOD
H[SDQV L
yQ 
HXURSHD 2
/D
\
FDt
ODV
GD
GHO7D
FRQVHFX
 KXDQWL
HQ FL
QVX\
DV
GH
O
R
DFRQTXLVWD


GHOPXQ
R 'RFXPHQWRVSDUD
SURIXQ
GL]DU 
  'RFX PHQW SD
RV UDSURIXQGL]DU
   
FR
LR
QLDO
6
/D GH
RFXSDFLyQ &HQWUR
DPpULF
D 
 /DV
JXH UUDV
FWYLO
HV 
&RORQL]DFL
yQ \
0p[ LF R 
/D
UHVLVWHQFL
D L
QGtJHQD 
\
HQFXH
QWUR O 
FXOWX
UD 'HH[S ORU
DGRUH
V
D
FRQTX
L
VWD
GRUHV 
W
/D
RUJ DQL]D
FyLQGHO
(VWD
GR
FRORQLD
O 
'RFXPHQW RVSDUD
SUR
IXQ
GL
]DU 
   'RFX PHQWRV SD
UDSURIXQG
L]D

U  a
?3XUD
5HS
UHVHQWD
FL
R /D
%
QHV FDUWRJUiLFD
V VRFKR
 UHJLRQHV
QDWXUD
OHV a7XPEHV


2QHQWDF
Ly Q
\
ORFDO]DRyQ
DEVR
OXW
D  /D U
HJLyQH
UDOD  +XDQFDYF
FD
OtQHDV
/DV LUU
D
JLQDULDV
KXVRV
KR
UDUL
FV
6 UHJ
2/DV
W LRQHV
\XQJDTX
\ HFKXD  $QFDVK
(O
3H
U~ \
]RQDV
GLPiW-
F DV U /D
UVUHJ
 LRQHVVXP
SXQ 
D\DQFD  3DVHR
UHJLRQHV
'RFX
PHQWRV
SDUDSURI
XQGL]D
U

   U
HJ
/DV LRQHV
VHOY
D
DOWD
\
VHOYD
ED£
D  0DGUH
GH'LRV
\
UHFXUVRV 'RFX PHQWRV SURIXQ
SDUD
GL]DU

  O 8FD\D
L
&XLGDGR
GHO
SDWULPRQLR
SUHVH
\ U
QDW
XUDO
YDFLyQ /D
FRQ*JXDFLQRHO
W
HUULWRULR 

 FXFDRHV
DV GHO3HU~ 
‡‡
‡‡
SHUXDQR ‡
OD HJ
y
D\XGD
GH
OD
ERG
L LYHUVL
GDG  FD
 PJUDFRR
UXUDO
XUEDQ
D  D &LR
VLFD
 /DV
FXHQFDV
KUGUR JUi
IL
FDV 'RFXPHQWRV
SDUD
SURIXQ
GL
]DU


  
/RV O
HULHVJR
IDFWRUHV \YXOQHUDELO
LGDG

3OD
QGH
JHVWLyQGHULH
VJRV 
'RFXPHQWRV SURIXQGL]D
SDUD
U   


O$VSHFWRV
IIV&
RV
GH
$PpQFD "L?3XUD

/D
SRE
OD
FLy
Q
GH
$PpUL
FD 
a /DUQED\HTXH
6LVWH
PDV
KLG
URJUD
IL
FRVUH
\ FX
UVR
V   /DV
 PLJUDFLR
QHV
LPHPDV
\H[WHUQDV

KtGQFRV 'RFXPHQWRV SURIXQ
GSDUD
L]D
U


  
$PpUL
F
D &OLPDVELRUUDV
\ $PpUFH
FD
L 
QXHVWU
R 'RFX PHQ W
RV
SDUD
SURIX
QG
L]DU

 

FR
QWLQ
H
QWH

/D
RUJ
DQL]DFLyQ
SR OtWLFD
GH
$PpULFD 
 $FWLYLGDGHV
HFRUyUQFDV 
HOGHVDUUROOR
(QWUH  GHQ
/DV RPLQDFL
RQHV
GH
$PpUL
FD 
22UJDQ
LVPRVGH

WHJ
D
RyQ 
OD H[SORWDFLyQ
\ 
'UY GH
WH
UQ
LVyQ W
RULD
O\GLYHUVLGDG
SROtW
LFD
'RFXPH QW
RV
S
DUD
SU
RIXQGL]DU  
 
UHFXUVRV 'RFXP
HQW
RVSDUD
SURIXQGL]DU

6
  

?$\DFX
 'H VD
UUR
OORVVWRH QL
EO
H 
 3UREOHPiWLFDV
DP ELHQWDOHV  

OD
FRQWDPLQDDyQ
GH OD UH
L a/ L
PD
 ,QGLFDGR
UHV GHOGHVDU
 U ROOR
KXPDQR 

a OOR
  3UREOHPiWLFDV
DPE LHQWDO HV
 6DQ
0DURQ
 'HVD U
UROOR
\GHV LJXD
OGDG 
 

'HVDUUROOR 'R FXPH QWRV UDSURI
SD XQGL]D
U


   O
DGHIRUH
VWDFLyQ 0RTXHJaD
VRVWHQLEOH 'RF XP HQWR
V
SDUDSURIX QGL]D U
  
 /DVDFWL
YLG D
GHVHF RQy PLFDV 
 3UREOHPiW
LFDV
WHUULWRULDHV 
VHF XRGDUD O
V GLV
PLQXFLy
Q GH
ODViUHD V
DJUtFR
ODV
 (IHFWRV
GH D
ODV FWLYLG
DGHV
HFRQyP LFDV
^ 
 2
3DUWLRS
DFOÏQ
G H
ORV DFWR UHV 

&UHFLPLHQWR VHF XQGUDD L
V
HQH ODPELHQW
H VRFLDOHV
HQOD
UHVRtX FyQGH
HFRQyPLFR  WD VDFWL
YLGD GHV
HFRQyP LFD
V  F RQWLFWRV
\Sa VHFXQGDULDV\HOGHVDUUROO
R
VRVW
HQLEOH 'R FX PHQWR
V
SDUDSURIXQG L
]DU

  
DWU?EOHPDO'RFXPHQWRV SDUDSURIXQG L]DU  

6HFFLyQ
LQLFLDO


%
,/RV

GH
DJ
(O(VW
HQWHV
D
GR
ORV
D
\
JH
HF
OD
QWH
RQyP
LQW
V
H
H
F
U
LFRV
DFF
RQyP
Ly Q


LFRV
(OI

7L
XQFLR
SRV
QDPLHQWR
PHUFD
GH GRV
PHUFDGR
GHO 

$PD]RQDV
7DF
QD Š
'RF
XP HQWRV
SD
UD
SURIXQGL
]DU


  
(O
PHUFDGR
'RF XPHQWRVSDU
DSUR
IX
QG L]DU


 

\O
DSURGXFFLyQ ‡
/E
L UH
FRPSHWHD

/D
GHPDQ
GD  HPSUHVDV
/DV OD
\ SURGXFFR
Q  Â
GHUHFLR
FH
O
8QSD
IV
GH 
/D
RIHUWD 
)DFRUHV
W \FRVWRV SUR
OD GX
HQ
F
FLyU  pRRVX
PLRRU
HPSUHLUGHGRUHV
'RFXPH
QWRV
SDUD
SU
RIX
QGL]DU

 'RFX
PHQ WRVSDUD
SURIXQGL]DU

  

a+XDQXFR
/D
IDPGLD
\
HO
DKRUUR 

(O
(VW
DGROD
\ HF
RQRP
tD 
a3XQR
 HPSUH
/D VD
\ LQYHUV
OD LyQ 

(O
VVWHP
DW
QEXWD
QR  /LEHUWDG
/D
'R FXPHQWR
V
SDUD
SURIX
QGL]DU


  
'RFXPH QWRV
SDU
D
SUR
I
XQGL]DU


  &DMDUQDUF
8QD
HFRQRPtD
UHVSRQVDEOH

/D
LQW
HUPH
GLDFLyQ
IL
QDQFLH
U
D  GHFVLRQHVGHO
/DV FRRV
XPGRU 
 LQVWLWXFLRQ
2WUDV H
VIL
QDQFL
H
UDV 
3UREO
HPDV
GHHFR
ODQRPtD
SREH]D

/R
VE
HQHIL
FLRV
GHO VREUHH
QGHXGDP
LHQWR
\NVH
PSOHR ‡ HGOFD
OD R L
DKRUURLQYH
UVL
\OD yQ 'RFXPHQWR
V
SDUD
SU
RIXQGL
]DU



  K DUFLHUD
'RFXPH
QWRV
SDUD
SU
RIXQ
GL]D
U
 
 



ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

&21&(3726
&/$9(

‡,QYDV
LRQ
HV
EiU
EDUDV ‡
5HQDF
L
PLHQ
WR
XUE
DQR
‡
*HUP
DQL
]DFLyQ ‡([
SDQV
LyQ
LVOiP
LFD
‡
5HQDFL
PLHQ
W
R
FDUR
OLQJ
LR ‡
&ULVW
LDQGD
G
‡0R
QDUX
Tt
DIH
XGD
O ‡
&UX]D
GD
‡5H
ODFL
yQGH
YDV
DOO
DM
H ‡
$UWH
URPiQ
LFR
‡6L
VWHPD
IHX
GDO ‡$UW
H
JyW
LFR


(O0HGLHYR
(O
DUWH
\
H
OSRGHU
SROtWLFR
(V
XV XDO
TXH
UODF
HLRQHP RVDODU
WHFRQ ODUHSUHVHQ
 WD FLy Q
GHOR TXH
VRFL
D
OPHQWH F
RQV LG
VH
HUD
EHOOR6LQHPEDUJ R
HVWDHV
V
ROR XQDIR
UP D
GH
HQW HQGHU OR
SXHV XQDJUDQ
 SDU WH
GHODV
REUDV
DUW
tVWU
FDV
GHVDUUROO
D
GDV SR UFX OWUX
DV GH WRGRV
ORV
WLHPSRV\OX
JDUHVH[S
UH VDQPR ORV
GR V SDUWLF
XODU H V
GH
HQWHQGHUOD
UH
DOL
GDGTXH
WXYLHURQORVJUXSRV H
LQVWLWXFLRQHV
VRF
$V
LD
t

OH
V
GX
S
UD
RGHURV
QWH
RV
OD (GDG

0HGLDH G
VH VDUU ROOUR
DQGRV HVWLORV DU WtV
WL
FRV
LPSRUWDQWHV H OURPi QLFR VLJORV ;,\;,, \HOJy WLFR VLJORV
;,,
\;,9 TXH SU RGXMHURQ D UWtVWLFDV
REUDV
GH JUDQ FDOLGD G
\EO H
H]
OD\TXH DGHPiV UH SUHVH QWD URQ ODYLVLyQ TX HWHQt DQ
ORVJUXSRV GRP LQDQW HV\H  PHUJH QWHV ODp 
GH
SRFD DFHUFD GHO
PXQGR 
(Q HOFDVR GH ODUWH UR Pi QLFR VXVLJOHVLDVHVF XOW XUDV
\SLQWXUD
V UHOLJLRVDV EXVFDEDQ LQFXOFD UHQ ODSREO D FLyQ H OUVH
SHWR
\HOWHPR UDOD,J
 OH
VLD FDWyOLFDLQV WLWXFLyQJ GH
UD QSRGHU
HQOD$ 
OW
D (GDG 0HG LD
TXH DILUPDED UHSUHVH QWDU OSR GH HU
GH
'LRV HQOD7LHUU
 D (ODUWHJyW LFR SRU VXSDUWH HUD OD H[SUHVLyQ
GHOSRG HUHFR QyPLF R \
SR OtW
LFR GH ODVFL
XG D GHV \ GH ORV JUX
SRV
VRFLDOHVPi VSRG HURVRV 
FRPR ODQRE OH]D\DOJXQRV PLHPEU RV
GHODEXUJXHVtD EDQTXHUR V \F R PH UFLDQWHV SU LQFLSDOPHQWH 
7HQLH
QGR
H Q
F
XHQ
WD
H[SXH
OR
VWR
WH
SOD
QWH
DPRV
OD
V
LJXLH
QWH
SUHJ
XQWD

¢&yPR
HO
DUWH
QRVSXHGH
D\XGDU
D
HQWHQGHU
ODV
FDUDFWHU
t
VWLFDV\
SROtWLFDV
VRFLD
OHV
GH
O0HGLH
 YR"

&DW
HGU
DO
GH
1RWU
H
'DPH
DH
3HUL
V
 /248($35(1'(5(026


(QHVWD
XQL
GD GDSU HQGHUHP
RVDHODERUDU
H[SOLFDFLRQHV
KLVWy
ULFDV
UH O
DFL
R
QDQGR DOJ
XQD VLWXDF
V L RQHV
SROtWLFDV
HFRQy  VR
PLFDV RD
tHV\FXOWXUD
O
HV GHO
SUHVHQWH FRQ VRSU
RKHFKR
FHVRVKLVW
yUL
FRVGDGRV HQ(XURSDHQWUHORV
VLJ
O
RVY\[Y
 $V
LPLVPRWDPELpQDSUHQGH
U HPRV DFRPSUHQGHU
HOWHPSR
L
KL
VWyUL
FRUHODFLRQ
DQGR ODV
FDUD
FWHUtVW
L
FDVGH
GLVW
LQWDVVRFLHGDGH
VDFWXDOHV
FRQOV
DVRF
L
HGDG HVGH O
SDVD
GR
HQHVWHFDVR
FRQOD OD
GH (GDG0HGLD


,QWURGXFFLyQ
(O0HGLHYR
'XUDQWH HVWDHWDSDTXH
GXU y DSUR[ LPDGDPHQWH(Q HVWD
pSRFD WDPELpQ VHGHVFX EUL
HURQ \
SXVL
HURQ
XQPLOHQLR VHSHUGL
y OD
XQLGDG SROtLF
WD HQ (XURSD HQ SUiFW
LFDHVWUDWHJLDV
WHFQR O
yJLFDV \HFRQyPLFDV
\HO
FRQW LQHQWH VXxLyFRQVWDQWHV JXHUUDV LQYDVLRQHV TXHSH
UP L
WLHURQDXPHQ W DUO
DSURG XFW
LYLGDG
\HSL
GH PL DV
3RUHVWD UD]y
QODVRFLHGDG VHRUJDQL]y \
DFFHGHU
DPD\R UHVUHFXUVRV 
DOUH
GHGRU XQDGH
PLQRU tDGH QREOHV GHGLFDGRV &RQHVWDV
HVWUDWH
JLDV
ORVSXHE ORV PHG LHYDO
HV
H[GXV L
YDPH QHO O D
DJXHUUDSDUD SUR WHJH UDO GH SX
UHVWR GLHURQVXSH UDU
HO
SU REOHPD GH ODIUDJPH QWD
FLyQ
OD
SREODFL yQ\ VH
GHVDUUROOyXQ VL
VWHPD UH O
LJLRV
RTXH SRO tW
LF
D
\ GHVDUUROOD
UXQDFXKXUD EULOO
DQWHTXH IXH
OHLR
GXQ VHQWLGRGH XQLD
GG EDMROD WXWHO
D GH OD
,JO
HVLD OD
EDVH
SDUD O
DIXWXU
D H[SDQVLyQHXURSH D


(OQDFLPLHQWR GHO
/XHJRGH FD
OD t
GDGHO GH
OPSHQR 5RPDQR HQ
2FFLGHQWHHO 
DxR
HPSH]yOD(GDG0HGLD
(Q
HVWH
SHULRGR O
DKLVGH
WRULD
OD
FL
YLO
L]DFLy
Q
HXURSHD GHVDUUR
VH OOyED M
ROD
LQIOX
HQFL
D
GHO
OHJD GR OD
URPDQR
FX
O
WXUD
JHU
PiX
FD\OD
IH
FUL
VWLDQD

/DV
L
QYDVLRQHV JHUPiQLFDV
/D
FDtG
DGH
5RPDVH
SURG
XMR
SUL
QFLSD
OPH
QWH
SRU
ODV
LQ
YDVLRQ
HV
GH ORV
JH
UPD
QRV
XQFRQ
M
XQWRSX GH
HEORV
GHO
FHQWUR
\ QRUWH
(XURSD
GH
OO
DPDGRV
GHV
SHFWLYDPH
QWH
EiUE
DUR
V
SRU
ORV
URPDQ
RV
(QHOVL
JOR HODWDTXH
9 OR
VKX
GH
QRV XQD
WULEX
GH
RQJHQ PRQJR O
REOL
JyD ORV
SXH
EORVJHU PiQL
FR VDLQYDGL
UORV
WHUULW
RUL
RVGHO
LPSHULR
5RPD IQD
LOPHQW
H IX
H VDTXHD
GDSRU O
RVYL
VLJRGR VED
M
R HO
PDQ GR GH
$O
DUL
FR
HQH
O
DxR 2
(Q ORV
DxRVVLJXLHQWH
V
ORVGHPiV SXH EO
RVJHUP iQ
LFRV DV
RODURQORV
WH
UULWRU
L
RV URP DQRV\HVWDEOH FLH
UR
Q
GLYHUVRV UH
LQRV(O
DxRHO
,PSHULR5RPDQRGH
2F FL
GHQWH \DQ
RH[LVWtD

/RV
UH
LQRV
URPDQRJHUPiQLFRV
$SDULU
W GHO
VLJO
R Y
ORVJHUPD
QR VFUHDURQ
XQ
DVHU
LHGHUH
LQRV
HQODV
WLHUUDVGH
,PS
HULR URPDQR (QWUH
O
RVPiV
LPS RUWD
QWHV
HVWDE
DQ
HOI
UDQFR
HO
YLV
L
JRGR HORVW
UR
JRG
RHOEXUJXQGLROVXH
HYR\H
OYiQGDOR

(QORVUHL
QRV UPJH
iQL
FRVHOSRGHUFRUUH
VSRQGtDODUH\
TXLQ
HFRQWDEDFRQFRQ XQ

VHM
R TXHORDV
HVRUDEDHQ O
RVWHPDVGHJRE L
HUQR \
OR
D\XGDED
D
LPSDUWLU
MXVWL
FLD
(Q
DOJXQRVWHUULWR
U
LRVHO
SRGHU PLO
LWDU
OR
HMHUFtDQO
RVGXTXHV
TXH
PXFKDV YHFHV UDQ
H
M
HIHVGHDOJXQRGHORV
SXHER OVTXHKD
EtDQVRP HWL
GR(QODV
FLXGD
GHVO
RVSHUV
RQ DM
HV
PiV GHVWDFDGRVHUDQO
RVFRQGHV \
ORV
RELVSRVTXHSRGt
DQWHQ
HUPXFKRSRGH U

&5,6,6
$/7$ (2$2 0(',$ %$-$
('$2 0('
,$ 0(',(9$/

2Ga a

 6 
a a 
a


 
(aaa
 a3DULV
  

,PSH
&DtGD
ULR
GH
GHO/
W
 a
Ë
5RPDQR
2F
FLGH
QH tUXRR
GHO

UHLQ
DG R
GH
GHa
aU)XQG
DFLyQ

GHO
a
Ha

4XHUOH
OD
āZaFRQVWa
,Q
LF
LR

a aU
HOH
‡D
JXHUUD
-XVL
Q
LL
DQR
HQ%L
]DQF
 VDF
UR
,PSHUR
L
5RPDQR GHODV GH
ORV
&LHQ
0RV
*H
UPiQL
FR LQYH
VW
LGXU
DV
5HLQR
HQ
-RV
IUD
DFW
6H
QFR
XDOHV
W
HVWDEOHFLy
HUULWR
ULR V
GH

/RPEDUG
RV3XH
5X
W
EORV
JHUPi
DV
GH
‡ &LaHGH
V
L
QLFR
QYD
V
VL
RQ
SQQFL
SDOH
V

%pOJLFD
\)UDQ
FL
DHQ
HOVLJOR
Y
$OFDQ]VX
DSRJHREDMR HO
JRELHUQRGH
&ORG RYHR 

,PSHU
L VDViQ
W
GD
RSHUVD

$U
DEHV

R


/D
JHUPDQL]DFLyQ
GH
O
RFFLGHQWH HXURSHR
/R
VJHUPDQRV
TXH HWQUDURQH QHOW
HUULWRULR GHO
DQ
WLJXR,PSHULRURPD
QR V
HPH]
FODURQ
UiS
L
GDPHQW HFR Q
ODV
SREO DFLRQHV TXH KDELWDED
QGDQGR OXJDU D XQ SURFHVR
OODPDG
RJU
HPDQL]DFLyQPHGLDQWH HOFXDOVHIXVLRQDUR
QFRVW
XPEUHV GH
ODV
FXOWXUDV
JHUPi
QL \
FD URPD QD
/DRUJDQL]DFLyQVRF LDO\HFRQyPLF
D GXUDQWH
ORV
V
LJORV \9
9, 
,,
VLJX
Ly SDXWDV
VLPLOUD
HV ODV
D
GH VLJORVDQWHULRUHVSR
UOR
TX HO
D
LUUXSF
LyQGH
ORV
JHU
PDQRV
QR
UHS
UHVHQ WyXQD
UXSW XUD W
R W
DOFR QHOSDVDGR
URPDQR
/D
VRFLHGDG XOWQ UHV
D
WH GHHVWHSU
RFHVR HVWDEDGLYLGLGD OLEU \
HQ
HV HVFODYRV
 (Q
WUH
ORV
JUXS RVOLEUHVKDEtD XQDpOL
WH
FRPSXH VWDSRUORV JUDQGHV SURS
LHWD
U
LRVW LH
GH
U
UDV
WD
QWRORV QXHYRVODWLIX
QGLVWDVJHUPDQRV OR FRPR
V
DQW
LJXRV URPD
QRV \
XQJU XSR
PHQRV ID
YRUHF LGRHQHO KDE TXH
t
D D
UWH
VDQRVFRPH UFLDQWHV
SH TXHxRVDJULF
XOWRUH
V
\
FDPSHVLQRV WUDEDMDEDTXH
Q SDUFH ODV
GHWHL
UUD GH ORVJUDQ GHV
SURSLHWDU
LRV3RU
RW
URODGR
ORV HVFODYRVFDUHFtDQGHOLEHUWD
GHV\SURFHG t
DQGH FRPSUDV
FD
SWXUDVHQ
OD
JXHU U
D
RFRQGH
 QD VM
XGLFLD
OH
V
'XUDQWH HVWRVVLJORVFR QWLQXy H
OSURFHVRGHUXUDOL
]
DFLyQTXH KDEtD
FRPH Q]DGR HQ
ORV
~OW
LPRV DxRVGH O,PS HU LRUPRD QR G FXDQ
RVHSURGXM
R XQGHVSREODP LHQWR GHODV
FLXGDGHVGHE LG
R DOPLHGR D
ORV
VDT XHR
V OGH
RVSX HOE
RVEiUED UR \
V OD
LQVH JXULGDGGH
ORV
FDPLQR V 0XFKRV KD ELWDQWHV GHODV
FLXGDGHV KX\HU
RQ DOFDPSR GRQGH SRGtD
Q
HQFRQWUDUD OL
PH QWRV \S U
R WHFF
LyQ SRU
SDUW
HGHORVJUDQGHVSURSLHW
D ULRV GH W
LHUUDV
 ¢6$%Ë$6
48( 
"
PX F
KRV GH ORVFXDOHVYLYtDQ HQYLOO
DV
DPXUDOO
DGDV\FRQWDEDQFR QHMp
 UFLWRV SULYDGRV $XQTXHORV
 FDPS HVLQRV
'H HVWD
PD QHUDDX QXTH ODVFLXGDGHV QR DGHVDSDOOHJDURQ
UHFHUFR PSOH WDPHQWH  O
RV
\ VRO
GDGRVJHUP DQRV
VXDF
WLYLGD
G HFRQyP LF
D V
H UHGXM
RS \
H
UGLHUR
Q OD
LPSRUWDQFLDGH pSRFDV DQWHULRUHV FR
QVHUYDURQVX
OHQJ XD
QDWL
YD
OD
DULV
W
RFUDFLD
/DU
XUDOL]DF
Ly QSURYRFy OD
YLGD
TXH HFRQyPLFD VH PiV EDVDUD
HQOD
DJUL HPS
FDGD
H]yD
XVD YH]
U
HOODW
tQ
FXOWXUD
/RV FDP SHVLQRV LQGH SHQ GLHQW
HVH[ SORWD
E DQVXVSHTXHxD V
SURS LHGD GHV
HQ $OIXVL
RQDUVH DPERV
WDQW
R TXH ORVJUDQGH V ODWLIXQGLRV HVWDEDQ PD QRVHQ GHUH\HV OD
ORV
 QR EOH]D\HO W
URQFRVOLQ
Jt
VWLFRV
FOHUR
 QDFLH
URQO
DV
OHQJXD V
URPDQFHV
FRPR HO
HVS
D xRO
HO
LW
DOL
DQ R
HO
IUDQFp
V
\HO
SRUW
XJXpV 


ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

(O
,PSHULR
EL]DQWLQR

$GUHUHQFLD OPS
GHO HQR 5RUQDQRGH
2FFLGH
QWH

HO
GH2ULH
QWH ,P
SHULR
EL]D
QWLQR
ORJUy
VREUHY
LYLUFDV
XQ
PLO
HQLR
PDV
6XJUDQ
GH]D
VHGHE
L
y
D
OD
ULTXH]D
GH WH
VXVUU
LWRU
LRV
VX
ELHRUJDQL]DGR
Q HMpU \
FUWRVXXELFDFLy
Q
HV
W
UDW
pJLFD


'H
OHVS
OHQG
RU
D
OD
GHFDGHQFLD
'HVGH ODFDtGD 5RGH
PDORV HPSHUDG RUHV
EL]DQWLQRV GHVHDEDQ QLILFD
U ORVWHUUL
UHX
WRUL
RV GHO ,PSH ULR
U RPDQR UH FX \
SHUDUVX
JUDQGH]D%D-2HOJRELHUQR GH-XVWL
QLDQR 
 HO,PSH ULR EL]DQWL
QR DOFDQ]y VX
Pi[ L
PR HVSOHQGRU ODD\XGD
&RQ VXVGH
JHQHUDOHV -XVLQ
W L
DQR UHFXSH Uy ,DWOLD
HOQRUW
HGHÈU I
FD\
L HO VXUG H
OD
SHQtQVX ODLEpUL

FD)
 LQD
OL]DGDV O
DVFR QTXLVW
DV-XVWLQLDQR HPSUHQGLy OD
UHIRUPD GH O
(VWDGR EL]DQWL
QR
UHRUJDQ L]y ODGD PLQLVWUDFLyQ FHQ W UDO
UHFRSL
O
y ODV
OH\HVURPDQDV GHVGH OD
pSRFD GH
HPSH UDGR U $GULD QRPHM RUy OD VXDLWFLyQ GH
OD
KDFLHQGD S~E O
LFDOD\
UH FDXGDFLyQ GH
L
PSX HVWRV \ HPE HOO
HFLy ODFLXGDG GH &RQVWDQWL
QR SO
D FDSLWDO
GHOL
PSH UL
R 'RF 
$ SHVDU GH DY
DQHVWRV
FHV O
DV FRQTXLVWDV -X VGH
L
Q
WLDQR VH QR
FRQVHUYD URQ GX UDQWH
PXFKR WLHPSR(Q
HOVLJOR 9,ORVO
RPEDUGRV LQYDG LHUR Q,WD
O
L
D \O
RVYL
VL
JR GRV H[SXO
VDURQ DORV
EL]DQW
PRV GH +LVSD QLD 3RV WHUL
RU PHQ W HHQ
O
RV VLJ
O
RV9,,\9,,
,
O
RV PX
VXOPDQHV RF
XSDURQHOVXU \ HOHVWH GHOPDU 0H GLWHU UiQHR
GHVGH6LULD\3D O
HVWL
QD
KDVWDHOQRUWH
GHÈIUL
FDHQ WDQWR TXH ORVSXHEORV HVOYRV
D VH HVW
DEO
HFL
HU RQ DOVXU
GHO
'D QXELR$SDUWLU
GH
O VLJO
R ;,,HODVHGLR GHORVW XUFRV FUX]\
DGRVGHELOLWyFDGD YH]
PiVHOLP SHUL
RKD
VWDTX HHVWH FD\y
ILQDOPHQWH  HQ 
(O(VWDGR LPSHULD-
(Q
HVWD
pS
RFD
HO
HPSHU
DGRU
DGRS
Wy
HOWXOR
IW EDV
GH
L
HXV
TXH
VLJQ
LIL
FD

UH\
HQ
JU
LH
JR
\
FRQFHQWUy
VXV
PDQ
HQ
RV
W
RGRV
O
RV
SRGHUHV
GHO
LPSHU
L
R

/D RUJDQL]DFLyQ SROtW


LFDEL]
DQW
LQD VH] FDUDFWHUL
ySRU VH
UX QDPRQDUT Xt
DW HRFUi
WLFDHQ O
D TXH HO HPS HUDG
RUHU
DFR
QVLGH
U
DGRUHS
UHVHQWDQWH GH 'LRV HQ
OD7LH
UUD

FR PR W
DO
HUDMHIH
GHO
D ,JOHVL
D
\
SRG tDQRPEU DUORVD
SDWULDUFDV
-XVW
LQLDQR
OOH
YD
XQDR
IUHQGD
GH
RUR
7LHQHXQD
DXUHR
OD
HQVHxDO
GH
GLY
LQLGD
G \
RELVSRVHQOD,O
J
HVLDRU
WRGR[ D(O
HPSHUD GRUEL]DQW
LQR FRQWDED
W
UHVL
QVWUXPHQWR VSDUDJREH UQDU 
‡
/D
EXURFU
DFLD
FLYL
O
FR
QIR
U PDGD
SRU
IXQFLR
QDU
LR
VHVSHFLDO
L]DGRV
HQ
O
DDGPLQ
L
VWUDF
L
yQS~E O
LFD
‡
8Q
HMpU
FLWR
PX\QXP
HURVR
 L
Q
W
HJUDGRSRU
VRO
GDGRV G
GH
LYHU
VDV
QDFL
RQDOL
GDGHV
‡ /D
,JO
HVLDRUWRGR
[D
VXERU
GL
QD
GD
DO
HP SHU
DGRU
EDM
RXQVVW
LHP D
GHQRPLQDGRFpV
DUR
SDSL
VPR

0RVDLFR
GH
-X
VWLQ
LDQ
R
\
VX
FRUHW

HODERUDGR
D
PHGLD
GRV
GHO
VL
JOR
9,
,
JO
HVL
D
GH
6DQ
9LWDO
GH
5iYHQ
D
,WDOLD



a



(YROXFLyQ
V 
,
-
/LVER
Da


2&e$12 aa 




 B
aB
,

$7/$17,&2

 &DWWDJ
RRt ‡
$QWL
RDXL
D
‡
‡
£S   ?
R U



a£a
'  aaaa
£aWLaa aaPSHULR ‡ 7H
aW
RULR
SH
FO
L
GR
HQWUH
ā



'
7HPWRQR HQ
SHUGLG
R W
UH
ā


B(O SHF
KFWQHVGH
JHQHUD
O
HV
GH
-
tRV
XVO
PFPR
1
'
7HU
ULW2OO2
SHUGLG
R
HQWUH


 $YD
QFH
WX
U
FR
R 
 P W
\
(FRQRPtD
VRFLHGDGHQ %L]DQFLR
%L]DQF
LRI
XHXQR GH
ORV
FQH
WURV
HFRQyP LFRV PiV
LP
SRUWDQW
HVGHO
PXQGRPHGLH
YDO
$GH PiVGHXQDDJULFXOWXUD
IO
RUHFLHQWH
HOLPSH
UL
RGHVD
UUROO
y XQ
LPSRUWD
QWH
FRPHUFLRL
QWHUQ
DFLRQDOJUD
FL
DV
DOD
X
ELFDFLyQGH&RQVWD
QWLQR
SOD
 FL
XGD
GTXH
HU
DHO
SDVRREOL
JDGR
GHOV
DUXWDV
FRPHUF
LD
OH
V HQWUH
$VLD(X
\
URS
D
/D
VRF
LHD
GG
EL]DQ
W
LQD
HUD
HVW
UDW
LIL
FD
G \H
DV
WDE
DIRUPD
 GD
SRUOR
V
V
LJXLHQ
WH
VH
FWRUHV
V 
‡
/D
DOWD
D
ULVWR
FUD
FLD
WHUU
D
WHQLH
QWH
TX
HW
U
DQVR
IU
Py
V
XV
SUR
SLHG
D
GHV VHx
HQ
RU
tR
V
‡
(OFH
O
URTXH
VH
YR
OYLy
PX\
SRGH
URVR
JU
DFLD
V
DODV
 GRQDF
LR
QHV TXH
UH
FLE
tD

‡
/D
EX
URFUDFLD
H
VWD
ED
PTXH
W
HJU
DGD
SRU
SHUV
RQ
D
VGH
GLYHUVR
RU
LJH
Q
TXH
WUD
ED
MD
EDQ
SD
UD
HO
(V
W
DGR

‡
/RV
FRPH
UFLDQWHV
TXH
KDE
VH
tDQ
HQUL
TXHF
LGR
FR
QH
O
W
UiIL
FR
FRP
H
UFLD
O
‡
/RV
FDPSH
V
LQRV
 KRPEUHV
OLE
UHV
TXH
GLVSR
Qt
DQXQD
GH
SHTXHxD
FD
QW
LGDG
GH
WLHU
UD
SDU
DV
XVXV
WHQWR
‡
/RV
V
LHUY
RV H
\
VFOD
YRV
TXH
F
DUHFt
DQ
GH
GHUHF
KRV

/RVFRQIOLFWRV
UH
OLJLRVRV
/DVRFL
HGDGEL]D
QWL
QD HUDSURIXQGDPHQWH
UHOLJ
LRVD SRU
\
HV
RVH
LQYROXF
UDED ORV
HQ
FRQIOL
FW
RVT X
R
HUHOO
DV W
HROyJ
LFDV
/D
PiVLPSRUWDQWH GH
HVWD
V
I
XH SURP
RYLD
G SRU
ORVLFRQRFODVWDV
 
TXH
HV
WD
E DQFRQW
HQUD
GHOXVR
GH
LPiJHQHV
UHO
LJLRVDV R
tFRQRV
SRU
TXH FQR
VLGH U
DEDQTX
HDV
tV
HSU
RPRY tD
OD
LGROD
WUtD
$OJXQRVHPSH
UDGRUHV EL]D QWLQRV D
SR \U DQ RD ORV LFRQR FODVWD
VOR TXH
DX
PHQ WyHO
GLVWD
QFL
DPLH
QWRFRQH
OSDSD URP DQR
/DV GLYHU
JH QFLDV S ROt
WLF
DVH
FOH
VLiVW
LFDV GLVS
X
\

WDVWHROyJ
LFDV
GHVGHHOVLJOR HQWUH
9,,, 2F FLGHQWH \ H O,PSHULR EL]
DQWLQR
RU
LJLQDUR
Q
HO&LVPD
GH2ULQWH
H H Q TXHGLYLGLy OD DFU LVWLDQGDG RFFLG
HQW \
DORU
LHQWDO
OD
SULP HUD
DFHSWy FRPR VXSUHP RD
MHIH
OS DSD GH 5R PD 2ULH
QWH UH
FRQRFLy
ODM
HUDU
TX t
DKRQR
UtILF
D
GHOSDWUL
DU FD GH&R QVWDQW LQRSOD
([W
HU
LR
U
GH
O
D
EDVIOLFD
GH
6D
QWD
$UWH
FX
\OWXUD
EL]DQW
LQD 6R
ItD
HQ
(VWDPE
XO

/RV
HPSHUDG
R U
HV\HVSHF
LD
OPHQ
W
H-XVW
LQLD
QR XW
LOL
]DUR
QODDUTX
 LW
HFW
XUD
SDUD
GHPRV

WU
DU
V
XSRGH
U\
PD JQLILFHQFLD
DQ
W
H VXV
SXH EORV\ORV
YH
FLQ /D
RVPi[LPD
PXH
VWUD
GH
HVWH
DUWH OD
HV
EDV
tO
LFDGH
6QDWD
6RItD

W
YL
M
/RV
PXURV
GH
ORV
WH
PSORV
HVWD
E
DQ
UHYHVW
LGRV
FR
QP
 RVD
LF
RV
DW
UD
YpVGH
F
XDOHV
ORV
VH
aH [SUHVy
OD
UOLJ
HLRVLGDG VH
UH
SUHVHQWD
IUH
F
XHQW
HPHQ
W
HD
&U \
LVWRDOD
9LUJH
Q
0D Ut
D 
a
‹ \
HOF
DUiFW
HU
V HP LGLYLQRHPSH
GHO
UDGR
U
/DV
ILJ
XUD
V
V
RQ
PX\
FOR
RULG
DV
SHUR
U
tJLGDV



(O
,P
SHULR
FDUROLQJLR

/D
SUL
PH D FODU
H[SUHVLy
Q D
GH XQLGDG
SROt
W HQ
LFD (G
ODDG 0HGLD
VXUJy
FRQO
,PHSHU
LR LR VLJ
FDUROLQJ OR
[
TXH
VH
IRUPy
VRE
U
HLG GH
EDVHO
UHLQR
GH IU
ORVDQFRV
(O
UHLQR GH ORVIUDQFRV
(OUHLQR GH OR VI
UDQFRV IXH XQL
ILFDGR SRU &ORGRYHR 'RF  PRQDUFD FR QHOTXH
VHLQLFLy ODGQ LDVWDt PHURY LQJLD
$OPRU LU&ORGRYHR HODxR  HOUHLQR VHGLYLGL
y
HQFXD WUR UHJ LRQHV1H XVWULDDO
RHVWH $XVWUDV L
DDO
HV WH
%RUJRxD HQ HOFHQWUR VXU
\$TXL WDQLD DOVXGRHVW H /RVUH\ HVPHURY L
QJLR VTXH JR EHUQ DURQ HVDV ] R QDV RVV
WXYL
HU RQ FRQWLQ XDV OFXKDV TXHGH ELO
LWDURQ VX SRGHU \ VXSUH VW LJLR SRU HVR 
VHO
HV
OO
DPy ORV UH\ HVKROJD]DQHV 
$QWH O
D GHFDG HQ FLD GH O
DDXWR U LGDG UHD O
OR VQRE O
HV
DVXPLH UR Q PD\R UHV SU HUURJ DWL
YDV$OJX QRV GH HOO
RV FRQYVH LUW LHURQ HQ PD\RUGR
PRV S GH
DOD
FL R
WtWXOR TX H GLVWL
QJXtDD HVWRV FRQVHMHURV UHDO
HV TX HVH HU L
JLHURQ HQ
O
RV YHUGD GHUR VGXHxR VGHO SRGH U
/RV UH\HV VROtDQGR QDUOHVWLHUU DVSDUD DVH JXUDUVH
VXO
HD O
WDG /R VPD\R UGRP R VGH$XVW UDVLDGH ODID
PLO
LD +HULVWDOREW XY L
HUR Q OD
VXRUH 
PDFtD D LQLFL
RVGH OVLJOR 9,,
8Q RGHVXV PL HP EUR V&D UORV 0DUWHO GHW XYR HODYDQFH
GHORV PXVX OPDQHV TXH YHQtDQ GHFRQT XLVW
DU (VSDxD WDV
UYHQFH UORVHQ OD
EDWDOOD
GH3RLW LHU V 
6X KM R
L 3LS LQR HO GHVWUR
%UHYH
Qy DO ~O
W
LPR U\ HPHUR Y LQJLR HQHO
DxR  XQLy HO
UHLQ R IX \QGy O
D GQDVW
L t DFDUROLQJLD

/D
RUJDQL]DFLyQ GHOLPSHULR
&DUORPDJQR KL
MR GH 3L
SLQR HO%UHYH RFXSy HOWUR QR HO DxR  \ HPSUHQG Ly
XQDSROtWLFDGH H[SDQVLyQ SDU D UHVWDX UD
U OD XQLGDG SR O
tWLFD GHODQW LJXR ,PSH U LR
URPDQR SHURVREUH O
D EDVH GHOFULVW L
DQLVPRO D \
KHUHQFLD FX KXUDOJHU PiQLFD 5HD 
OL
]y H[LW RVD VFD PS Dx DV PLO LWD
UHV FR QWUD RWUR VSXHEO RV JHU 
 UJ£PL]DFLRQ
GHO P3H
PiQL FRV VHJ XLGDV SRU PLVLRQHV GH FULVWL
DQ L]D FyQ
L (Q HO
DxR  IXH FRURQ DGR HPSHUDG RU SRU HO SDSD /Hy Q 
(03(5$'23

ILGH
OLGDG QRPEUD

ILGHOLGDG XQD
'RF 
Vy
/D
OGD
L UHV
IR UPDFL
LVWHQF
y
L
QGH
D IUHQW
XQ
H
JUDQ
DODYD
LPSH UR
QFH GH O
LFU LVW
RVPXVX
L
DQR FUHy
OPDQHV
W
  &DU ORPDJ QR HM HUFLy XQ I pUU HRFRQ WUR O
/RV KRP EUHV OL
EU HV
VHU HXQt DQ GRV YHFH VDODxR SDU DDSURE DUODV O
H\HV GHO L
P
IL
GHO
L
GDG 
 ILG
HOL
GDG SHULROODPDGDV FDSLWX O
DUHV (Q$TX LVJU iQODFDSLW DOLPSH ULDO
&DU ORPDJ QRFRQW DED FRQ IXQFLRQDU LRV FRPR HOFDQFLOOH U
B,
B B B
&21'(6 0$548(6(6 ‡BB BB ,
TXH HUDVX VHFU HW DU L
R\ HOFKDPEH O
iQ TXH VH HQFDUJ

$
W W
aOO
I
 GH VX VH ULFY
LR SH UVRQ DO $OIUHQWH GH O
DV SURY LQF L
DV R FRQ
Z
IL
GHOL
GD
G a ILGHOLGD
B-
G
GD GRV H VWDEDQ ORV FRQGHV TX LHQHV WHQtDQ HO SRG HU FLYLO
a


a BB \PL OLW


DU HQVX VFRPD U FDV/DV]R QDV IURQWHU L]DVFRQRF LGDV
FRPR PDUF DV HVWDEDQ JR EHUQDGDV SR UO
RV PDUT XHVH V'RV
6,(5926 8%5(6
IXQFLRQDU LRVHV SHFL DOHV ORVPLV VLGRPLQLFL X Q O
DLFR\ XQ
VDFH URW
GH O
RV VXSHUY LVD
EDQ

(O
UHQDFLPLHQWR FXOWXUDO FDUROLQJ
/DHVWDE
LOLGDG SRO t
WLFDSHUPLWL
y HOGHVDUUR OO
R FXO
WXUDOGHOLPSHULR
(QHVDpSRFD
OD
UQD\RQD GH ODSRE ODF
L
yQ HUD
DQDOIDEHWDLQFOX
\HQGR DO SURSL
R&DUORPDJQR TXLH
Q
GHF LG
Ly
SRU HOORLPSXOVDU
OD
IXQGDFLyQ GH HVF
XHODVSDUD IRUPDU
DOV
RIXQFL
RQDUL
RV

©
/DPiV IDPRVD GH WRGDV
IX
HO
D(VFXHOD 3DODWLQD
HQ
$T XL VJUiQ
TXHFR QJUH
JyXQ
D a
JUXSR GHVDELRV HQ FDEH]D
GRVSRUHOILOy
VRIR
$OFX LQ
R GH<RUN$OOt
VHHGXF DURQ &D
Ua
O
RUQ DJQR
VX VKLM
R V\W
RGRV I ORV
XQFLRQDULRVGHO
DFRUWH a


/D
FULVLVGHO PXQGR FDUROLQJLR
/X HJR GH O
D PXHUW HGH&DU ORPDJQ R 
 ODQREOH]D HPSH]y DUHWHQHUORVFDUJR V
TXH VH OHKDEtD Q GHO
HJDGR \DDFXPXOD U JUDQGHV H[W HQVLRQHV WLHUUD
GH VJUDFL
DV D
ORVI HXGR VHQW UHJDGRVSRU HOPRQDUF DR DO
DVSHTX HxD VSUR SLH
GDG HVTXH W
RPD ED
GHO FDPSHVLQ DGR  /XGRYL
FR 3tRKLMR\
VX FHV
R UGH &DUO RPDJ QR WXYRHQI TXH
UHQW DU
YLROHQWRVFRQIOLFW RVFRQ XQD QREOH ]DFDG DY H] PiV SRGHU RVD7UD V
VXPXHUWH VH
IL
U Py HO 7UDWDGR 9H U
G~GH
Q  TXHR UGHQDED GLYLGLU\UHSDUWL
U HO
LPSHULR HQWU H
VXV WUHV KLMRV/RWDULRD
TX LHQ O
H FRUUHVSRQG L
y/RWDUL QJL
D &DUORV HO
&D OYRTX L
HQ
UH FL
ELy OD)UD QFLDRFFL
GHQWDO \/X L
VHO*HUPiQ LFR
TXL HQ REW XYROD)UD
QF L
DR UL
HQ WDO
R *HU PDQL D
/DV
LQYDVLRQHV
GHO
VLJOR
,;

(O,PSHULRFDUROLQJLRVH GH VL
QWHJU
y GHELGR HQSDUW H D
O
DVLQYDVLRQ
HVGHDO
JX 
QRV SXHEORVTXHDV RODUR
Q(XUR SDGHVGH HO
VLJO
R ,;(ODXPHQR
W GHVXSREO
DFLyQ
\ OD
HVFDVH]GHOL
PH
D QW R L
PSXO VDU
RQD HVWRV JUXSRV DVDTXHDU
2FFL
GHQWH(QWUH
ORV
LQYDVR UHVHVWX
YL
HURQ ORV
YLNLQJRV'RF ORVVDU
UDFHQRV ORV
K~Q
JDUR
V\O
RVHVO
DYRV

(VWD
VLQYDVRLQHV FUHDURQ XQD DW
PyV IHUDGH L
QHVWDELO
LGDGH LQVHJXULGD G HQ(XURSD
SXHVORVUH\ HV HUDQLQFDSD FHV GH UHXQLU
RS RUWXQDPH QWH HMpUF LWRV GH FDEDOOHURV
SDUDGHIHQGHU VXVW
HUULWRUL
RV GH ORVDVDOWRV
(VWRSXV RGHPDQ L
ILHVWROD IUDJLOL
GDG GH
OD
PR QDUTX tD$QWH HVWDVLW
XDFLyQ ORVQRE O
HV PiVSR GHURVRV VH RUJD QL
]DURQSDU D
GHIHQGHU VXV FR PDUFDVFRQ VWUX\HUR Q FDVW
L
OORV\IRUWLIL
FDFL
RQHV\ DFR JLHURQ HQVXV
SURSL
HG DGHVD WRGDV O
DVSHUVRQ DV TXH VROLF
LW
DEDQSU RWHFFL
yQ D FDPE LRGHO
HDOWDG
\IL
GHOL
GDG UVRQSHDO &RQ HOW
LHPSR ODDXW
RU L
GDG GH HVWRVVH
xR U HV O
RFDO HVVH
YR OYL
y
PiVLP SRUWDQWH TXHODGHO
SUR SL
R UH\(VDV
IXHURQ O
DVEDVHVVREUH O
DV TXHVHL
QVWD X
Uy XQ
QXHYR VLVWHPD SROIW
LFRHFR QyP LFR\VRFLDOHQ(XURSD 
HOIH XGDO
LVPR

/RV
YLNLQJRVWDP
 ELp
QOO
DPDGRV
KRPE UH
VGH
OQ
RUWH R
QRUPDQGRV /RV
HVODYRV
 SURYH
SXHEORV HQWH
V
RH
O
D
OODQXUD
UXVD
DWDFDURQ
KDE
LD W
EDQ
O
DUHJL GH
yQ (VFDQ
GLQDYL
D
'LQDPDUFD1RUXH
 JD6XH
\ F
LD
 *HUPDQ
D
\V H
HUX
EOHF
LHU
RQYDULRV
HQS RUQ
RV
GH
(XURSD
FH
W
HO
HQ H[WUHP R
QRUW
HGH
(XUR
SD (
OO
RV
SU
RWDJ
RQL]D
UQ
RODV
LQYDV
LRQHV (VW
H
6RQORV
 DQWHF
HVRU
HVGLVWLQ
GH W J
RVUXSRV
QDFLRQD
O
HV
FRPR
LPSRU
PiV WDQWHV
\
GH
PD\ RUHV
FRQVHFXHQFLDV ORV
U
XVR V
O
RV
SRODFRV

ORV
VHUE
LRV
O
RV
FKHFRV
HWF

2&2
 6-2
NP I
1



E
££

,-

2&
($12
$7/È17,&2

F-
9t
NQJ
 RV
2
+XQ££D
UR
V
(-
6DUUWFH
O 6

'
LRQDRR
HVWDE
HFL
ULHQ
R

‡
FU ORV
GHYL
NLQJRV
R
I ¢

ORV
VD
UUDF H HU
QRV SLU
DQ DWDV
PXV XO
PD TXH
QHV GH
VGH /RV
K~Q
JDURV
RPFJD SXHEORV
HVHUDQ GHRQJHQPRQJROT SURYHQtDQ
XH GHO
O
DSH
QtQVXOD
LEp \
ULFD
HO
QRUW
H
GHÈIU
LFD
UHDO
L
]DEDQ VXU
GH
5XV
L
D
(QHO
DxR

O
 DV
ED PDJ
QGDV LDUHV OR
V
DWUDYHVDURQ&iUSDWR
V
H[SHG
LFLRQHV VDT
SDUD XHDU
ODV
FRVWDV
GH
)UDQ
FL
D V
\H
HVWDEHRHRQ
HQ UHJLy
OD Q 3DQRUXD
GH F HUFD ULR
GHO 'DQXELR
'HVG H
H
DxR
H
,WD
O
LD 6H
 LV
QWD
ODU
RQ
HQOD
LVOD
GH 6LRED
HQ
\ HO DWDFDURQ
 FL
XGDGHV
LPSRUUDQ
W
HV
GH
O
WD
L
D
*HUQDQLDO*D
\ DU 6L
DQ
HPEDUJR
SXHUW GH
R 7DUH
QW
RDO
VXU
GH ,WD HQ
OLD HO
D 
xR  IXHUR

YH
QFHRV
SR UH

HPSHUDGRU
2W HQ
RR OD
EDWD
O
OD
RH
O 
HFUIHOG 



(OPXQGR HXURSHR
;, H

$LF
LQ
LRV
GHOVLJ
OR V
;,XaL
HURQ
QXHYDVPDQLIHVWDFLRQHV
XQLGDG
SROx
LFD F
HQ > XUQ
SPHGLHYD
OO
DV
OXFKDV
FRQVW
DQW SRU
HV O
DKHJHPR
QtD
O
OHY
DUR
Q
LJ
HQ XQRV
FDVRV
DO
LQH
WQW
R UX
GHHFRQVWL ORV
JUDG
QHV
PSH
!
GH
,-$
QW
L
J/LFG
DG


(O
6DFUR
,PSHULR 5RPDQR *HUPiQLFR
+DFL DHODxR (XURSD HVWD
EDGL
YLGL
GD QX HQ
PHURVR VUHLQRV\WHU
U LW
R ULRV
LQGH
SHQG LHQWH V /RV
GRV(VWD GRVPiVLPSRUW DQWHVVX UJL
HURQGH OD
GL
YLVLyQGHO,PSHULR
FDUR OL
QJLR HO6DF
UR ,PSHUL
R 5RP DQR *H UPi QLFR TXHWHy QFDP HQWH HM
HUFtDXQ
D
DXWR UL
GDG VLPEyOL
FD VREUHWRGRHO
PXQGR FULVWL
DQ RRFFL
GHQWDO \HO
UHL
QR GH)UDQ
FL
D&DGD XQR GHHVW RV
(VWDGRVVH
HQFRQWUD ED DODYH]
GLY
LGLGR HQGHPDUFD FLR
QHV
WHU
U LW
R UL
DOHVPiV SHTXHx DVFRPR FDGRV
GX VHx \
RUtRV
(Q
HVRV O
XJD UHV
ODDXWRUL
GDG
GHOHPSH UDGRU R GHORV
UH\HV
HUDPX\ GpELO


&

6 W

‡ 


O   ‡‡R
‡ aIWa‡

O 2
H!2RD
W
$
 Rā (Q D
HO
xR 
2WyQ KL
MR GH(QUL
TXH HO3D£DUHURDVFHQ
GL
yDOWURQR


t 7 
0

S&< OW

!

‡ ,
GH*HUPDQtD<DOLJXD O TXH &DUORPDJ QR DVSLUDE
D UHFR
DQVWU XLU
HO
DQWL
JXR,PSHULR URPDQR 3DUDHOORSQPHUR GHEt
DFRQVRO
LGDU OD



DXW
QD
RUL
U
GDG
EDMR
UHDO
VX SR
HQ
GHU
O
D
D
SURS
O
RV
LD
QR
*HUPDQ
EOHV
D
TXL
tD
HQ
SRU
HV FR
O
RTX
QYL
UW
H
L
L
QW
y
HQWy
HQIX
VXER
QFLRQD
UGL
UL
RV
OHDO
HVD-DPRQDUTX tD 6QL HPEDU JR QR O
RJUy VX
REMHWLYRSRU HO
SRGHU
\ODDFW
LW
XG OHYD QWLVFDGH O
RVJUDQ GHV QREOHV
2W yQGHFLGLy
HQWR
QFHVEX VF
DUHODSR\R GHO
DSRGHUR VDMHUD UTXtDHFOHV
L
iVWL
FD
R
(Q HOiPELWR L
QWHUQ RVD OLyHQ GHI
HQVD GH O
RV RELVSRVTXH VHKD
OODEDQ HQIU
DVFD GRVHQ OXFKDVFRQ WUDORV GXT XHV SRU ODSRVHVLyQ
GH WLHUUDV
2WyQ DGHPiVSUHVW GHDUOH
VD\XG DPL O
LW
DU \ GL
U HUR OH
RWRUJy PiV WL
HUUDV$FDPE LR GHHOOR
O
D ,JOHVLDVH FR PSU RP HWL
y
2Wy
Q
UHFL
E©ODVS
HDGD
GH
D
D\XGDUORHQO
D DG PLQ LVWU
DFLyQGHO UHL
QR \GHOHM
pUFLWR'H HVWDPDQHUD O
RVRELV
%HUHQJ
DU
LR UH\
 GH,
WDOLD

SRVVH
FRQYLUWLHURQ HQ IXQFL
RQD UL
RVOGH (VWDGR *UD
FLDVDO
DSR\R GHOD,JO
HVLD2WyQ
YH
QFLyDO
RVK~QJ DUR VHQ ODEDWDOO
D GH /HF KIHOG 
IUHQy ODVL
QYDVL
RQHV GHORV
QRU
PDQ GRV \ OR V
GH
HV
ODYRV\PD QWXYR VX UHL
QR HQSD]
HO
(Q iP ELWR H[WHUQR2WyQ DFX GLyDOOO
DPDGR TXHO
HKL]R HOSDSD -XDQ ;,,

DP HQ D
]D
GRSR U HOUH\
LWD
OL
DQR %HUHQJD UL
R $Vt
FUX]yO
RV$OSH VDOIUHQWH XQ PDJQ
GHtILFR
HM
pUFL
WR PLH QWUD
V%HU HQJDUL
R KXtD\VHQRP EUyUH\
GH ,WDO
LD (O
DxR  
HO
SD SD OR
FRUQR
y HPSHUDG RU
2W yQUHFRQR FLy OD
OHJLWLP
LGDG GHO
SR GHU SDSDOSHUR VH
DG MX
GL
FyG HO
HU HFKR QR GH
PEUDU DOVXPR SRQW t
ILFH\GHLQW
HUYHQ LU HQ
OD HO
HFFLyQ GHO
RV
REL
VSRV (VHIXHHO
LQLF
LRGHXQ DODUJDO L
DDQ]DHQWUH
HOSDS D\ORV
 HPSHUDG RUHV
/D
D
GPLQLV
WU
D
FLy
Q
LPSH
U
LDO
2WyQGHFL
GLyVXVLWX
WLU HO
YLHMRVLVW
HPDFDURO
LQJLRGHRWRUJ
DUEHQHIL
FL
RV
VREUHW
RGR
W
LHU
UDV 
DORV
IXQF L
RQDULRV GHVL
JQDGRV(QVXOXJD
UL
QVWDX
Uy XQDUHGDGPLQLVW
U
DWL
YD
HFOHVLiVW
L
FD TXH FXEUt
D FDVLWRGRHO
WHUULW
RULRLPSHULD
O
(VWH
VLVWHPD DSRVH
\DEDHQ
RE
LVSRV DU]RE
\LVSRVDTX L
HQHV HO
HPSHUDGR U QRPEUDEDFRPR DXWRULGD
GHVFLY
L
OHV
\
PLO
LW
DUH
V

(QWUH RWUDV
IXQF
LRQHV VH
HQFDUJ
DEDQ
GH
DGPLQL
VWU
DUM
XVWLF
L
D
DFXxD
U
PRQ
HGD
HLP
SRQHUGHUHFKRV
DGXDQH U
RVDV
tF
RPRDXWRU
L]DU
OD
LQV
WDO
DFLyQ
GH
FHQ
WURV
GH
tQWHU
 

FDPELRFRP
HUF
L
DO 
a
a

-



R
/DVPRQDUTXtDV IHXGDOHV
(QW U
HORVVLJORV; \;,
HOU
H\HUDVRORXQQREOHPiV \V
XSRG HU HVWD
ED
OL
PLW DGR SRU HO
UHVWR GH
ORV QREOHV6LQHP EDUJR
GXUD QWHORVVL
JORV ;,,
\ ,O
;,, RVPRQDUFDV HXUR SHRV
GHVDUURODUR QHVWUDWHJLDV SDUD IRUWD
OHFHUVXSRGHU \
H[WHQG HUVXV
WHUULWUR
LRV 3R U
HMHPS ORFUHD URQMpUFH LWRV SURSLR
V HL
PSXV L
HUR Q PHGLDQW HO DI
XHU]D
ODREHGLHQFLD
D PXFKRVVHxR UHV IHXGDOHV(OU
HVXUJLPLHQWRGHOFRP HUFLR \HOFUHF
LPLH QWR GHODV
FLXGDGHV OHV SHUPL W
Ly FRQ W
UDWDUDVROGDGRV SDUDGHSHQGH UPHQ RVGHVXVYDVDOORV

/RV
SULPHURV
3DUODPHQWRV
(QWUH
ORVLJVO
RV;,,\;,,,VHFU HD
U RQORV
SU LPH URV3DUODPHQWRVHQ O
RV
SULQFL
SDOHVUHL
QRVHXURSHRV(VWD VL
QVW LWF X
LRQHV TXHHUDQ FRQYRFDGDV VRO
RFXDQG R HO
UH\ORFRQVL

GHUDEDRSRUW XQRHV WEDQ
D FRQI RU PDGDV SR UORV
QREO HV\
FOpUL
JR VPiV
L
PSRUWD QWHV

DVtFRP
 R SRU ORVUHSU HVH QWDQWHVGH O
DV SULQFL
SDOHVFLXGDGHV6HQFH
DU JDE DQGH
DXWRU
L
]DU DOJXQRVL PSXHVWRV \ORVJDVWRV H[WU DRU
GLQDULRVSDUDVXIUDJDU
O
DVJXHUUDV
$QWHVGH DSUREDU O
DV SHW LFLRQHVGHO UH\
ORV PLHPEU RVGHO3DUO
DPHQWR OH[ H
SRQtDQ
VXV
SHWLFLRQHV\ GHPDQGD V

;,
/DYLGD HQ OD(XURSD GHO VLJOR
+DF LDHODxR 
OD
YLGDGHODRS
EODF
LyQHXU RSHD HUD
PX\ GXUD /DV SHU
VRQDV
PRU tDQ
WDQMyYHQHV
TXHDTXHOO
RVTXH
VREUHS DVDEDQORV

DxRV HUDQ FRQVLGHUDGRV
DQFLDQRV/DHOHYDGD
PRUWDOL
GDGVH
GHEtDDWU HV
FDXVD
VIXQGDPHQ WDO
HV OD
VFRQWL
QXDV
JXHU UD
VHOKDPEUH
SURYRF DGD
SRUVH
TXtDVLQXQGDFRL
QHV
SODJDVJXHUUDVHWF 
\
ODV
HQIHUP HGDGHV
/DYL GD
WUDQVFXUUtD
SULQFLSDOPHQ WHHQ
HOFDP \D
SR TXH PXFKDVFLXGDGHV GHV DSDUH
FL
H
URQ RVXSREODFLyQVHUG HXMR
$XQTXH DOJXQDVGHHOODVVH
UFX
HSHUDURQODV LQYDVL
RQHV
GH ORV
VL
JORV,;\ YROYLHU
; RQDDIHFW
DU
OD YLG
DXUEDQD(QWRQFHV
O
RVSREO DGRU HVH
VU
H
IXJLDURQHQHOFDPSREDM R ODS
 UR
WHFFLy
Q TXHRIUHFtDQO
RVFDVWL
ORV HOD
GQREOH]D I
HXGDO
(Q OD(GDG0HGtDODJHQWH L
QWHUSUHWDED OD
VFDO
DPL GDGHVPHGLDQWH
VXSH UVW
L
FLRQHV
TXH DOXGtD
QD
LQW
HU YHQFLRQHVGHOGHPR QL
R F R
DV
W L
JRVGH'LR
V
3R U
HVR
DO
JXQDVSHU

VRQDV SURQRVW
L
FDURQTXH O
RV URE
SOHPDV GHORVVLJO
RV,;\
[V
L
JQ L
ILF
DE
DQHODQXQFLR
GHOILQGHO
PXQGR 
HOFXDOO
OHJDUt
D HO
DxR  'RF 6


1

I R
62 
NP

2&e$12
$7/$17,&2


&-
0XQGR
PXVXO
PiQ
(VFD
QGL
QD
YRV

a
ā


a



ā




 BO
'RFXPHQWRV
SDUDSURIXQGL
'RF
 &RQ
VW
DQWLQR
SO
D
&R QVWDQ
WLQRSODIXH
FRQVW
UX L
GDLPDD JH
QG H
5RP D /DFLXGDG FQ RDED
W FR QDP
S OLD
V
D YHQLG
D V\ YD
ULRV
SRUHO
HPSH U
D GRU&RQVW
DQWLQRHQHODRx
V 
REU
HOD IRURV(QHO
FH QW
UR FRQ
VH
V W
U X\HURQPDMHVWXRVRV
DQWL
JX DFROR
 Q LDJULH
JD
G H
%L]DQFLR HGtxFtRVFRPR HO
S DODFLRLPS HUL
DO K LSyG HO
URPR
6LWXD
G D
HVWUDWpJL
FDPHQWHHQHO
HVWUHFKRGHO%yVIR
UR HO6HQDGR \OD
EDVtO
LFD GH6DQWD6ROID
&H UFDGHHVWD
TXHFRPX QLF
DEDP HO
DU
1H JUR\HO
 PDU 0HGLWUU
HiQHR]RQDVHH QFR QW
UDEDH OEDUULRGH3HU
D
GRQ GHYL
YtDQ
ORV
OO
HJyDFRQWUROD
UO
DV
UXWDV
FR PHUFLDOHV
HQ W
UH(XURSD FR PHUFL
D QWHV
\$VL
D(VWDE
DF 
RQ VW
UXL
GDVR EU
HXQS XHU
WRQDWXUDO

HO &RQV WDQ WL
QRS OD
VH
FRQ YL
UWLy HQ
XQ DGH
OD VFLXGDGHVPiV
&XHUQR\ GH
SUR
W
HJL2UR
GD SRUXQ
G REOH
FLQWXU
yQGH UL
FDV\SRS XORVDVGX UQ D
WHOD(GDG0H GLD (Q
WLH
PSRV
PXUDOODV
 GH-XVWLQLDQROO
HJyD W
HQ H
UPi VG H
PHGL R PLOyQ
OGH
KD ELW
DQWHV\HQ
HO
V LJOR;
VR EUHSDVDEDHO PLOO
yQ


‡ ‡
‡

'RF

/D
FRQYHU
VLyQ
GH
&ORG
RYHR 
/DUHtQ
D&O
RWLO
GHFH QR
Vy
G HLQV
LV
WLU
D
&O
RGRYHR 0LHQWUDV
GHFtD
HVWD
VSDOD
EUD
V
ORV
DO
DPD QHV
OHGL
H
URQ
SDUD
TX HFRQ
 RFLHVHHO
YHUGDG HU
R'LRV
\DEMXU
DV
HGH OD
HVSD OGD
\F
RPH Q]DURQ
DK
XLU
+HFKD
/D
SD]
ORV
>GRO
RV
0D V F
RQQLQJ~QPH
 GLRO
RJUDED
TXHVH &O RGRYH RYROYL
y
DVX
KRJDU
3R FR
WL
H
PSRG H
V SXpV
FRQYLUWL
HUDDO
D I
H
KDVW
DH
OGtDHQ
TXHHVW
DOOy
OD
JXHU
UDH O
RE L
VS R
GH5HL
PV6DQ
FRQWUD
ORV
DOH
PD QHV
6XFHGLyTXH
HQ
HO
W
UDQV
FXUVR
GH 5HPtJLR
OR
EDXWL
]y
OD
EDWD
OOD
HO
HMp U
FL
WR
G H
&O
R GRY HR
HVWXYRD
SXQWR
GH 3HUHRUD

SiU
U
VHU
DQLTXLO
DGR $O
YH
UHVW
R&ORGRYHR
DO
]y
ORV
RM
RV
DO >DGDSWDFLyQ@

FLH
OR
\H[FO
DPy

2K-H
VXFU LVW
R
V
L
PHRWRUJ
DVO
DYLF
WRULDVREUH
PLVHQH
 PLJR V
FU
HHUp 7L
\PH
HQKDUp
EDX
WL
]DU
H
Q
W
XQRPEUH+HHYRF
DRGPLD
VGL
RVHV
SHUR
V
HKDQ
DEVW
HQL
GRD \X
GH
GDU
PH 
FHU
RSRU
O
RWDQWR
TXH
QR
W
LHQHQ
SRGH U
DO
JXQR
(V
D7
L
D
T XL
HQLQYRFR
DKRUD
HV
HQ
7t
HQT XLH
Q
GHVHR
FUHH
U>
@
 )UH
VF
RG
HO
EDXW
L]
R
GH
&W
FDRYH
R


'RF

 (O
HPSHUDGRU
&DUORPD
JQ
R 'RF

(O
WHPRU
GHODOOHJDGD
GH
O
DxR

6XILJXUD
WDQWR
GHSL
H +D
EtD
, P~OWLSOHVUD]RQHV

 WHP
RU
H
O SDUD
FRPRVHQ W
DGR
GDED VL
JOR DSDUHFH

L SU RIXQG DP H
QWHPD UFDGR
SRU
OD
OD
VHQVDF GH
LyQ JUDQ JUDQDFRPHW LGD
GHORV LQ
YD V
RUHV
ORVJRELHUQRV
VRQ
DXWRUL
GDG\GL
JQ L
GDG LQHVWDEOHV 
ORVPR QDUFDVDVHVLQDGRV
O
RVGXHx
RVVRQ
\DXQ
T XHVX
FXHOORHUD PiV GHVSy WLFRV
ORVFDVWL
JR V
PiVGXUR V
OD
FUXHO
GDG
JUXHVR DO
\ JR
FR U
WR PiVHYLGHQWH WRGRPRPHQWR VH
(Q
DJXDUGD
OD
\VX
EDUULJD
EDVWDQWH VHxDO
HO
DQX QFLRGH OSU
y[LPRIL
Q/DPDOGDG
GHO
SURPLQHQWH
ODVLPHWUtD KRPE UH
HVSDQW DPHQRV TXHO
DIHURFLGDG
GH
OD
GHVX
FXHUSR FXO
R
WDED QDWXUDOH]D 
+D VWDH Dx
O R
 S DUHFtDQ
VRSRUW
DEOHV
HVWRV
GHIHFWR
V>@ ORVDF
RQ WHFLPLHQWRV GHVGLFKD
GR V
0D V
DSDUWLU
GH
/H
J XVWDED
HVFXF KDU HQWRQFHV PX Q GRSDUHF
HO H
UHV
TX HU EDM
DUVH
P~ VLFD
Rt
\ UOHFWXUDV /DIXHU]DGHYDV WDG RUDGHOR
V
FDWDFOL
VPRV
PLHQWUDV
FRP t
D ORV PHWHRUROyJLFRV O
DHVFDVH]
(SURYRFD
O
KDPEU
H
WHPDV
GHO HFW
ODVXUD V FXQG H
OD
V HSLG HPL DV
HQ WXUEL
DQHO
GtD
G H
FDGD
HUD
QODV
KL
VWRULDV\ SULPDYHUD 
KHFKRV
GHORV
WL
HP SR V +D\ H[SOLFDF L
RQH V
DQWLJX
RV QDWXUDOHVGH HVWD
\W
DP EL
pQVHQWtDLQW HUpV GUDPiWLFD VLWXDFLyQ
SRUORV
O
LEUR V
GH V DQ 5HWUDW
RGH
&DU O
RPDJ QR ODV
WDODV
GH ORVPRQWHV 
$JXVWt
Q
HVSH FLDO PHQWH GH $OEHUWR
'XUHUR

HO
FUHFLP LHQWRGH O
D
SRUXQ
RWLW
XO DGR / D SREODFLyQHOEUXVFR
FLXGDG
GH
'LR V> -
7HQD
LSD O
DE UD
IiFL
O H[XE
\ HUDQWH QDFLP L
HQWR G H
WDQW DV
\SRGtD
H[S UHVDU FRQ PXFKtVLPDFODULGDG
ORTXH FLXGD GHVF GHIH
WXRVD PHQ WH
GHVHDED
@
@ DEDW V
HFLGD V 
3HURQR
7DP EL
pQL
QWHQWDED HVFULEL
U 
\SU DDHOOR
W
HQtD
HQHO VHTXLHUHYH UHQ
OD W
D O
OH
FKRE
 DMR D OPRKODV
DGDV
WDEOLOO
D \
VSOLHJRV
GH DGYHUVLG DGPiV TXH
SHUJDPLQRSDUDDFRVWXPEUDU DVX
PDQRDWUD]
DU ODV
VHxDOH V
G HW
DFy OHUD
ODV
O
HWUD
VHQVXV KR UDV
GH
RFLR 
SHUR
H
VW H
HVIX
HU] R GLYL
QD\H D
O QXQFL R
GH OILQ

FRPHQ]D GRGHPD VL
DGRWD
UGHQRW
XYRp[LW
R

&LWDGR SU y[LUQ
R -
, 3KLOLSSH 5HS U
HVHQWDFLyQ
GHO
WH
PRU
HQ+HOHQ
D SiUU

 SS
   D-D
PXHUWH
HQ
GVL
JOR
[

'RF 
/DV
QDYHV
YLN
LQ
JDV
FODY
/D HGH
Op
[LWR
GH
WR
V
YLN
LQ
JRV
H
QFVH
RQWUDE
D
HQVX V
QDYHV
/RV
K RPE UHV
G H
O
QRUH W

QXQFD
GHMDURQGHSHUIHFFLRQDUVXV
H PEDU FDFLRQHV
OV
\ DDG DSW
DED Q
DORV
Pi V
YDULDGRV
XVRV
SDU
D
OD
JXHUU D
RHW
WUDQV
S RUWH 
SDUD
UHPRQWDU
ORV
UtRV
\SDUDXQHYHQWXDO
WUDQVS RUW
HSRU
WLH
UUD
GH
XQD VD
J XD D
V RWUDV
/RVGUDNNDUR
ODQTVNLS
HUDQ-RVEDUFRV
GH
JXH UUDPHGtDQ  XQRV
PH WURVGH
ODU
J RSR
UGHDQFKR 
WHQ
tDQXQ
FDOD
G RGHSRFRPiVGHX QPH WU
R
XQ
Pi VWLO
\XQDJUDQYHOD
GHVSOHJDE O
H
(VWRV
EDUFRV
HUDQPX \
PDQH MDEO
HV 
UiSLGR V
\U
HVLVWHQ
WHV
(QODVFUyQLFDV
GH
ODpSRF D
VLHPSUHVH
KDFt
D
PHQ FL
y Q
DO
WH
PRU TXHLQ IXQGtDQ
VXV
SURDV
DGRUQDG DVF
R QPRQV WUXRVDVFDEH
]DVGH
GUDJyQ /DV
QD
YHV
?LNLQJDV
VH
FDUDFWH
UL]DEDQ
SR
UVHU

,Q YDVLRQHVGHO
VL
JORL[
\[ S
VI
iUU

 HPEDUFDFL
RQHV
PX\
OL
JHUDV


5HFXUVRV
DPS
OLDU
SDUD
&::$UWHKL
V
WRULD
 I


V 5HF
XSH
U
DGR
GH
KW
WS

ZZZ a*LVS
HUW&

 +L
 VWR
U
LD
8QLYHUVD


7RPRV
 ŠIW

U

DUW
HK
LVWRU
LD
FRP
Y

SHU
VRQDMH
V

KW
P a %D
UF
HORQD
(VS
D
xD2FpDQR
W(Q
H
VWH
V
LWL
R ZHE
V
HPXHVWUDQREUDV
GH
DUWH
GH
ORV
GLVW
LQWR
V/R
VWUHV
 W
RPRVDEDUFDQ
GHVG
H
OD
(GDG KDVWD
OD
$QWLJXD (GDR

SHURQVDMH
V
GH
OD
(GDG
0HGLD
HQ
XQ
I
RUPDWR
LQWH
UDFWLY
R
TXH
&RQW
H 6H
PSRUiQHD
GH
VWDFDQ
ORV
DFRQW
HFLPL
HQW
RV
PiVLPSRU
M
aID
FLOLWD
OD
FR
PSUHQVL
yQ
GH
ORV
WH
PDV
 WDQWHV
TXH
FD
PEL
DU
RQ
HO
UXPERGH
OD
KLVWR
UL
D DO
PXQGDGHP
iV
a GH
ELRJ
UDItDV
GH SHUVRQDMHV
GH JUDQ
SURWDJRQ
LVPR

H


 

 

ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.
ENSAMBLADO POR EL LIC. JAIME ZÁRATE R.

You might also like