You are on page 1of 2

8QFRQFHSWRQXHYRHQ FHQWUDOLWDV

$OLPHQWDFLyQ GH 9 PiV GH 

KV GH XVR FRQ EDWHUtD GH

&HQWUDOWHOHIyQLFD

9$K

,QWHUQR SDUD 02'(0 GH DOWD

YHORFLGDG GH WUDQVPLVLyQ ,GHDO

SDUD ,QWHUQHW

,QWHUQR SDUD ,GHQWLILFDGRU GH

3DUDUHVLGHQFLDVR SHTXHxDVRILFLQDV

OODPDGD

8WLOL]D WHOpIRQRV FRPXQHV FRQ

WHFOD )/$6+

! 0DUFDFLyQ 721238/626 ! /tQHD GLUHFWD HQ ORV LQWHUQRV ! %ORTXHR GH OODPDGDV D

FHOXODUHV R  HWF

5HVHUYD GH OtQHD OD FHQWUDO

DYLVD FXDQGR OD OtQHD VH

34;,

GHVRFXSD

3URJUDPDFLyQ LQGLYLGXDO

SDUD GtD \ QRFKH

$WHQFLyQ GH SRUWHUR

HOpFWULFR DFFHVRULR RSFLRQDO

&DUJDGRU GH EDWHUtD

DFFHVRULR RSFLRQDO

0DQXDOGHO XVXDULR

02   02 

8VDUODHVDVtGHIiFLO
6L UHFLEH WRQR GH RFXSDGR DO LQWHQWDU SDVDU XQD OODPDGD 8G SXHGH FROJDU SDUD WUDQVIHULU VREUH RFXSDGR \ HO RWUR LQWHUQR UHFL ELUi XQ WRQR GH DYLVR SDUD TXH FXHOJXH SHUPLWLHQGR TXH OD
KDELOLWD SRU SURJUDPDFLyQ 6L GHVHD QR VHU PROHVWDGR \ TXH VX LQWHUQR QR VXHQH DQWH OODPDGDV H[WHUQDV \ GHO SRUWHUR PDUTXH  GHVGH VX LQWHU QR 3DUD TXH YXHOYD D OODPDU PDUTXH  (VWD IDFLOLGDG VH

3DVDUXQDOODPDGDDXQLQWHUQRRFXSDGR

4XLWDUVHPRPHQWiQHDPHQWHGHORVJUXSRV

5HDOL]DUXQDOODPDGDSRUOtQHD 
OtQHD H[WHUQD OR OODPH R DJXDUGDU XQRV VHJXQGRV SDUD UHWRPDU OD FRPXQLFDFLyQ H[WHUQD

$O GHVFROJDU HO WHOpIRQR HVFXFKDUi WRQR GH LQWHUQR 7HFOHH 

FHUR SDUD UHFLELU WRQR GH XQD GH ODV OtQHDV /XHJR WHFOHH

GLUHFWDPHQWH HO Q~PHUR GH TXLHQ TXLHUH OODPDU

'HVYtRV
03 4.:5,/4

3DUD TXH WRGDV ODV OODPDGDV GLULJLGDV D VX LQWHUQRV VXHQHQ HQ RWUR PDUFDU  VHJXLGR GHO Q~PHUR GHO RWUR LQWHUQR

6 8 

, ' /2 '(6($ /$ 129$



38('( '$5/( 7212 '( /1($ $/

'(6&2/*$5 < $&&('(5 $/ 7212 '( ,17(512 62/2 6, 7(&/($




/ODPDUDWRGRVORVLQWHUQRV
6L QR VDEH GyQGH VH HQFXHQWUD OD SHUVRQD D TXLHQ TXLHUH OODPDU WHFOHH  \ OODPDUiQ WRGRV ORV LQWHUQRV &XDOTXLHUD SXHGH DWHQGHU OD OODPDGD SXHGH XVDUOR HQ WUDQVIHUHQFLD //$0$51 /26 ,17(5126 48( (67e1 ,1&/8,'26 (1 (/
3DUD ERUUDU XQ GHVYtR

)/$6+

&202 35,0(5 10(52 $6,*1$5 $/ ,17(512 (/ 6(59,&,2

8QD YH] KHFKR XQ GHVYtR FRUWDU \ PDUFDU  SDUD TXH VROR VH GHVYtH OD OODPDGD VL VX LQWHUQR HVWi RFXSDGR

5HDOL]DUXQDOODPDGDDXQLQWHUQR
*5832 '( //$0$'$ *(1(5$/ 9(5 352*5$0$&,1

&yPRXWLOL]DUVXPyGHP

KDJD XQ GHVYtR D VX SURSLR LQWHUQR

'HVFXHOJXH \ WHFOHH HO Q~PHUR GH LQWHUQR TXH GHVHH  D  

6L WLHQH XQD 3& FRQ PyGHP GH DOWD YHORFLGDG GH WUDQVPLVLyQ LQVWiOHOR FRPR LQWHUQR  GH OD QRYD  (Q VX SURJUDPD GH FRPXQLFDFLRQHV R HQ 3URSLHGDGHV GH GLVFDGR GH :LQGRZV SURJUDPH FRPR SUHILMR GH DFFHVR D OtQHD HVSHUD WRQR 
:

$JXDUGH VHU DWHQGLGR

6L VX LQWHUQR VH FRQHFWD D OD OtQHD GLUHFWDPHQWH VHUYLFLR  

OXHJR GH GHVFROJDU WHFOHH )/$6+ VHJXLGR GHO Q~PHUR GHO LQ

QXHYH XQR

WHUQR TXH GHVHD OODPDU 0DUFDQGR VREUH WRQR GH LQWHUQR  DFFHGH D OD OtQHD  \ PDUFDQGR  DFFHGH D OD OtQHD 

$FFHGHUDXQDOtQHDHQSDUWLFXODU $WHQGHUHOSRUWHURHOpFWULFR
3

$WHQGHUXQDOODPDGDTXHVXHQDHQRWURLQ WHUQR FDSWXUD 


$5$ $7(1'(5 (/ 3257(52 (/e&75,&2 (1 /26 ,17(5126 '( /$


(/ ,17(512  '(%( 7(1(5 $6,*1$'2 (/ 6(59,&,2  (1 /$ 352*5$0$&,1 25,*,1$/ '( )%5,&$ ',&+2

/HYDQWH HO DXULFXODU \ PDUTXH  SDUD FDSWXUDU XQD OODPDGD

TXH VXHQD HQ RWUR LQWHUQR

6(59,&,2 9,(1( $6,*1$'2 3(52 $17( &8$/48,(5 '8'$ &2168/7( (/ 0$18$/ '( 352*5$0$&,1
'(%( (67$5 ,167$/$'$

$ 12 38('( &$3785$5 81$ //$0$'$ 38('( 48(

129$ 6( '(%( ,167$/$5 81 0'8/2 $&&(625,2 23&,21$/

< /,%5( /$ /1($  3$5$ 32'(5 5($/,=$5 81$ &2081,&$&,1 '( (67$ &$5$&7( 567,&$ /$ &2081,&$&,1 5($/,=$'$ '( (67$ 0$1(5$

6($ 81$ 5(6(59$ /$ 48( (67 //$0$1'2


&XDQGR VH DFFLRQD HO SXOVDGRU GHO IUHQWH OODPDQ ORV LQWHUQRV FRQ GRV VHULHV GH VHLV OODPDGRV FRUWRV (O TXH DWLHQGH TXHGD FRPXQLFDGR FRQ HO IUHQWH \ SXHGH DEULU OD FHUUDGXUD WHFOHDQ GR )/$6+

12 38('( 6(5 75$16)(5,'$ $ 2752 ,17(512

5HVHUYDGHFRPXQLFDFLRQHV

6L DO LQWHQWDU XQD OODPDGD LQWHUQD HVFXFKD WRQR GH RFXSDGR

,GHQWLILFDGRUGHOODPDGDV
&RQHFWH VX HTXLSR LGHQWLILFDGRU GH OODPDGDV SDUD OD OtQHD  HQ HO LQWHUQR  \ HO HTXLSR SDUD OD OtQHD  HQ HO LQWHUQR 

PDUTXH  GRV  7UHV WRQRV FRUWRV OH LQGLFDQ TXH OD UHVHUYD

IXH WRPDGD \ OD FHQWUDO OR OODPDUi FXDQGR HO LQWHUQR VH GH

VRFXSH

//$0$51 /26 ,17(5126 48( (67e1 ,1&/8,'26 (1 (/


*5832 '( //$0$'$ '(/ 3257(52 9(5 352*5$0$&,1
(/
,'(17,),&$'25 &21(&7$'2 $/ ,17(512 5 /$6 //$0$'$6 $ /$ /1($ /$6 //$0$'$6 $ /$ /1($

3XHGH SURFHGHU GH OD PLVPD PDQHUD FXDQGR UHFLED RFXSDGR

   6,

6(f$/$ < (/ '(/ ,17(512

DO TXHUHU DFFHGHU D OtQHD H[WHUQD \ OD QRYD  OR OODPDUi 6L QR HVWi OODPDQGR HO LQWHUQR SXHGH FRPXQLFDUVH FRQ HO IUHQWH PDUFDQGR 


(/ ,17(512 &255(6 321',(17( (67 6,(1'2 86$'2 &8$1'2 ,1*5(6$ /$ //$0$'$ e67$

FXDQGR KD\D OtQHD GLVSRQLEOH GiQGROH WRQR GLUHFWR GH OtQHD

3DVDUXQDOODPDGDH[WHUQDDRWURLQWHUQR

12

6(5 6(f$/,=$'$

&$'$

,17(512 '(%( (67$5 ,1&/8,'2 (1 (/ *5832 '( $7(1&,1 '( 68 &255(6321',(17( /1($

6L HVWi PDQWHQLHQGR XQD FRQYHUVDFLyQ H[WHUQD \ GHVHD SD

VDU OD OODPDGD D RWUR LQWHUQR WHFOHH )/$6+ \ DO HVFXFKDU WR

7HOHEDQFRDXGLRWH[WROODPDGDHQHVSHUD

9(5

352*5$0$&,1

QR GH LQWHUQR PDUTXH HO Q~PHUR D TXLHQ TXLHUH WUDQVIHULU

HVFXFKH HO WRQR GH OODPDGD \ FXHOJXH HO WHOpIRQR &XDQGR HO

RWUR LQWHUQR DWLHQGD TXHGDUi FRPXQLFDGR FRQ OD OtQHD H[WHU

QD

3URJUDPDFLyQGHODFHQWUDO
7RGDV ODV LQVWUXFFLRQHV SDUD SURJUDPDU OD QRYD  VH GH

6L QHFHVLWD PDUFDU )/$6+ KDFLD OD OtQHD H[WHUQD SRU HMHPSOR SDUD DWHQGHU XQD VHJXQGD OODPDGD SDVH SUHYLDPHQWH D PRGR WUDQVSDUHQWH WHFOHDQGR )/$6+ \ OXHJR  PLHQWUDV HVWi FRPXQLFDGR FRQ OD OtQHD /XHJR SRGUi HQYLDU )/$6+ SRU OD OtQHD H[WHUQD
&DPELRGHPRGR

FRQVXOWDQGRSUHYLDPHQWH

WDOODQ HQ HO PDQXDO GH SURJUDPDFLyQ

(Q OXJDU GH FROJDU HVSHUH TXH HO RWUR LQWHUQR DWLHQGD SDUD

UHDOL]DU VX FRQVXOWD R DQXQFLDU OD OODPDGD H[WHUQD /XHJR

VL 8G FXHOJD HO RWUR LQWHUQR VH TXHGD FRQ OD FRPXQLFDFLyQ

VL HO RWUR LQWHUQR FXHOJD 8G VH TXHGD FRQ OD FRPXQLFDFLyQ

VL 8G WHFOHD )/$6+ VHJXLGR GH  FHUR  ORV WUHV TXHGDQ

KDEODQGR HQ XQD

FRQIHUHQFLD

/D FHQWUDO WLHQH GRV SURJUDPDFLRQHV TXH SXHGHQ DOWHUQDUVH PHGLDQWH XQ VLPSOH FRPDQGR (VWD IDFLOLGDG VLUYH SDUD GHILQLU GRV PRGRV GH SURJUDPDFLyQ SRU HMHPSOR SDUD GtD \ QRFKH 0DUFDU         SDUD SDVDU D GtD \         SDUD SDVDU D QRFKH

You might also like