Issuu on Google+

$0 ,6 7$'‡%,(1(6 7$5 ‡  &8 /78 5$

75,/2*,$

        

TT

38%/,&$&,Ð1'(/&Ì5&8/2'(68%2),&,$/(6'(/$6)8(5=$60,/,7$5(6'(&2/20%,$

  ¿ 

  \[

HJ½ "×P/P QÈHJOBT#PHPUÈ  %$5BSJGB1PTUBM 3FEVDJEB/P /PWJFNCSF&OFSP *4//

&217(1,'2



$VFHQVRVD6DUJHQWR 0D\RU\-HIH7pFQLFR

020(172(148(6(+$&(/$'(9(/$&,Ð1'(/$3/$&$&210(025$7,9$<&257('(/$&,17$3253$57('(/6(f25*(1(5$/)(51$1'27$3,$667$+( /,1([FRPDQGDQWH*HQHUDOGHODV)XHU]DV0LOLWDUHVHLQWHJUDQWHGHOD-XQWD$VHVRUDGHO*UXSR6RFLDO\(PSUHVDULDOGHOD'HIHQVD *6(' ORDFRPSDxDQHOVHxRU0D\RU *HQHUDO&DUORV(GXDUGRÉYLOD%HOWUiQ3UHVLGHQWHGHOD-XQWD'LUHFWLYDGHO&tUFXORGH6XERILFLDOHVGHODV))00\HO6DUJHQWR0D\RUGH&RPDQGR&DUORV$OEHUGL9HOiVTXH] 'LUHFWRU*HQHUDOGHO&tUFXORGH6XERILFLDOHVGHODV))00

/XHJRGHGRV DxRV\PHGLRGH FRQVWUXFFLyQ ODPRGHUQD HGLILFDFLyQGH WUHVWRUUHVGHOD VHGHYDFDFLRQDO ´/D3DOPDUDµKR\ HVXQDUHDOLGDG DOVHUYLFLRGH WRGRVORVDILOLDGRV DO&tUFXORGH 6XERILFLDOHVGHODV ))00

&

M   EF BHPTUP EFM QSFTFOUF B×P  DPO MB QSFTFODJB EFM TF×PS .BZPS

(FOFSBM $BSMPT&EVBSEP«WJMB#FMUSÈO  1SFTJEFOUFEFMB+VOUB%JSFDUJWBEFM$ÓS DVMP EF 4VCPmDJBMFT EF MBT ''..  FM TF×PS (FOFSBM 'FSOBOEP 5BQJBT 4UBIF MJO  .JFNCSP +VOUB "TFTPSB EFM (SVQP 4PDJBMZ&NQSFTBSJBMEFMB%FGFOTB FM TF×PS $PSPOFM +PSHF &OSJRVF /BWBSSF UF+BEFUI %JSFDUPSEFM$&/"& MPTDP NBOEBOUFTEFMBTVOJEBEFTUÈDUJDBTEF MB HVBSOJDJØO EF 5PMFNBJEB  NJFNCSPT EFMB+VOUB%JSFDUJWBEFM$ÓSDVMPEF4VC PmDJBMFT MPTTF×PSFT4BSHFOUPT.BZP SFTEF$PNBOEPZTVTFRVJWBMFOUFTFO MBT EJGFSFOUFT GVFS[BT  QSFTJEFOUFT EF

DPPQFSBUJWBTZBTPDJBDJPOFTEF4VCPm DJBMFT SFUJSBEPT EF MBT 'VFS[BT .JMJUB SFT F JOWJUBEPT FTQFDJBMFT  TF MMFWØ B DBCPMBDFSFNPOJBEFJOBVHVSBDJØOEFM $PNQMFKP)PUFMFSPEFMBTFEFWBDBDJP OBMi-B1BMNBSBwFO.FMHBS -BTJOTUBMBDJPOFTEFM$PNQMFKP)PUFMFSP GVFSPO CFOEFDJEBT QPS FM QBESF )FSOBOEP+JNÏOF[(BSDÓBEFM$PNBOEP "ÏSFP EF $PNCBUF /P  %F JHVBM NBOFSB TFSFBMJ[ØMBEFWFMBDJØOEFMB QMBDB DPNP SFDPOPDJNJFOUP B RVJFOFT DPO TV BQPZP Z FTGVFS[P MPHSBSPO MB DVMNJOBDJØO EF VOP EF MPT QSPZFDUPT NÈT JNQPSUBOUFT EFTBSSPMMBEPT QPS FM $ÓSDVMPFOMPTÞMUJNPTB×PT

&2/,1$ &$03(675(



/267583,//26 9LVLWDSUHVLGHQFLDO\GH RWURVJUXSRV



(/'$5,e1 &RQYHQLRVFRQSDUTXHV WHPiWLFRVGHODUHJLyQ


F 75,/2*,$

 (GLWRULDO

¶  75,/2*Ì$ )XQGDGRHQPD\RGH )81'$'25(6 60)$& U $OIRQVR5RGUtJXH])RUHUR -7$5& U /XLV$QWRQLR+HUUHUD0HGHOOtQ 60)$& U 0DQXHO$QWRQLR3pUH]1LHWR

'LUHFWRU

 

 

',5(&725*(1(5$/ 60&(-&&DUORV$OEHUGL9HOiVTXH]*DU]yQ 68%',5(&725*(1(5$/ -7$5&-RVpÉQJHO*RQ]iOH]&pVDU

$OILQDOL]DUHOFRPR'LUHFWRU*HQHUDOPH SHUPLWRSUHVHQWDUXQUHVSHWXRVRVDOXGRGH 1DYLGDG\$xR1XHYRDWRGRHOSHUVRQDOGH 6XERILFLDOHVDFWLYRV\UHWLUDGRVTXHHODxR OOHJXHDFRPSDxDGRGHSD]DOHJUtD\SURVSHULGDG HQWRGRV\FDGDXQRGHORVKRJDUHVGHORVDILOLDGRV DO&tUFXORGH6XERILFLDOHVGHODV)XHU]DV0LOLWDUHV\ VXV)DPLOLDV

-()('(0(5&$'(2<5(/$&,21(63Ô%/,&$6 63(-&/XLV(QULTXH4XLFHQR4XLQWHUR ',5(&&,Ð1<5('$&&,Ð1 *LQD$+HUQiQGH](VSLQHO &255(&&,Ð1'((67,/2 1RKUD$QJpOLFD%DUUHUR &216(-2(',725,$/ 60&(-&&DUORV$OEHUGL9HOiVTXH]*DU]yQ 63(-&/XLV(QULTXH4XLFHQR4XLQWHUR 3HULRGLVWD*LQD$+HUQiQGH](VSLQHO $'0,1,675$'25(66(&&,21$/(6 7-)$&-DLUR5RGUtJXH]5RGUtJXH] 60(-&/XLV5D~O5LQFyQ%ODQFR 60(-&-RUJH$OIRQVR0HUFDGR ',6(f2<',$*5$0$&,Ð1 ÉQJHOD5XL]&DUR ,035(6,Ð1 9tFWRU-$FRVWD)²*UDILOHR7HO -817$',5(&7,9$ 0D\RU*HQHUDO &$5/26('8$5'2É9,/$%(/75É1 3UHVLGHQWH 'RFWRU É/9$529$/(1&,$3$55$ 5HSUHVHQWDQWH0LQLVWHULRGH'HIHQVD 7HQLHQWH&RURQHO )5('<*21=É/(=&$6752 5HSUHVHQWDQWH%ULJDGD1R 6DUJHQWR0D\RUGH&RPDQGR &$5/26$/%(5726É1&+(=+(51É1'(= 5HSUHVHQWDQWH6XERILFLDOHV(MpUFLWR -HIH7pFQLFR -25*($85(/,$1202/,1$5(6*21=É/(= 5HSUHVHQWDQWH6XERILFLDOHV$UPDGD1DFLRQDO 7pFQLFR-HIH 3$%/2*,/%(5725,1&Ð1)8/$ 5HSUHVHQWDQWH6XERILFLDOHV)XHU]D$pUHD 6DUJHQWR0D\RU U  É/9$52%(&(55$5(1*,)2 5HSUHVHQWDQWH6XERILFLDOHV5HWLUDGRV  &2/,1$&$03(675(%2*27É'& $Y&DOOH1R &RQPXWDGRU:HEZZZFLUFXORPLOFR /$3$/0$5$0(/*$5 .P9tD%RJRWi²0HOJDU 7HOpIRQRV  ²)D[ (PDLOUHVHUYDVSDOPDUDFVIIPP#KRWPDLOFRP /267583,//266$17$0$57$ &DUUHUD1R%DUULR6DQ3DEOR 7HOpIRQRV  )D[ (PDLOUHVHUYDVWUXSLOORV#KRWPDLOFRP (/'$5,e1(-(&$)(7(52 .P9tDPXQLFLSLRGH0RQWHQHJUR 4XLQGtR

7HOpIRQRV   (PDLOUHVHUYDVGDULHQ#KRWPDLOFRP

60&(-&&$5/26$/%(5',9(/É648(=*$5=Ð1 'LUHFWRU*HQHUDO

(

Q PDWHULD GH UHVXOWDGRV \ GHVDUUROOR LQGX GDEOHPHQWHHODxRIXHXQRGHORVPDV LPSRUWDQWHV SDUD OD HQWLGDG HQ ORV ~OWLPRV WLHPSRVFRQODHMHFXFLyQ\FXOPLQDFLyQGHSUR\HF WRVGHLQIUDHVWUXFWXUD\HTXLSRRULHQWDGRVDEULQ GDU VHUYLFLRV GH FDOLGDG \ PD\RUHV SRVLELOLGDGHV GH UHFUHDFLyQ ELHQHVWDU \ DORMDPLHQWR D QXHVWURV DILOLDGRVVHDGHODQWDURQHQODVVHGHVYDFDFLRQDOHV ODVVLJXLHQWHVREUDV (Q OD VHGH YDFDFLRQDO ´(O 'DULpQ´ HQ 0RQWHQH JUR 4XLQGtR FRQ OD FRQVWUXFFLyQ GH RFKR   KD ELWDFLRQHV IRQGD EDU VDOyQ GH FRQYHQFLRQHV \ OD SOD]ROHWDGHHYHQWRVHQWUHRWUDVVHDPSOLRODLQ IUDHVWUXFWXUDHQVHUYLFLRVGHDORMDPLHQWR\UHFUHD FLyQ LJXDOPHQWH HQ FXPSOLPLHQWR GH ODV QRUPDV DPELHQWDOHVVHFRQVWUX\yODSODQWDGHWUDWDPLHQWR GHDJXDVUHVLGXDOHV (Q OD VHGH YDFDFLRQDO ´/RV 7UXSLOORVµ HQ 6DQ WD 0DUWD HQ HO SLVR GRFH GH OD WRUUH KRWHOHUD VH DFRQGLFLRQDURQGRVVDORQHVVRFLDOHVDVtPLVPRVH FRQVWUX\y XQD FDQFKD GH I~WERO \ VH DGHODQWDURQ REUDV SDUD HPEHOOHFHU OD VHGH \ RIUHFHU  PHMRUHV FRQGLFLRQHVGHVHJXULGDG (QODFROLQDFDPSHVWUHVHFRQVWUX\yODFRFLQDGH HYHQWRVEDxRV\YHVWLHUHVHQODVFDQFKDVGHWHQLV XQQXHYRVDOyQVRFLDO 6DQWDQGHU \XQSDUTXHLQ IDQWLOSDUDQLxRVPHQRUHVGHFLQFRDxRVGHLJXDO IRUPDVHUHPRGHOyODFRFLQDSULQFLSDO\VHKDELOLWy HQHOKRWHO\PDFFtUFXOR]RQDZLILDVtPLVPRVH SXVRDOVHUYLFLRGHORVDILOLDGRVODSDJLQDZHEGHOD HQWLGDG ZZZFLUFXORPLOFR  (QODVHGHYDFDFLRQDO´/D3DOPDUD´HQ0HOJDUVH FDPELDURQORVSLVRVGHODVWHUUD]DV\HQFKDSHVGH ODSLVFLQDHQOD]RQDDQWLJXDLJXDOPHQWHVHWHUPLQy ODFRQVWUXFFLyQ\VHSXVRDOVHUYLFLRGHORVDILOLDGRV \VXVIDPLOLDVHOFRPSOHMRKRWHOHURHVWHFRPSOHMR HVHOSUR\HFWRPiVLPSRUWDQWHGHVDUUROODGRSRUOD

HQWLGDGHQORV~OWLPRVDxRVFRQFLHQWRVHLV   KDELWDFLRQHVGRVSLVFLQDVVDOyQGHFRQYHQFLRQHV GRVDVFHQVRUHVUHVWDXUDQWHFRPHGRUHVSDUTXHD GHURV\VHUYLFLRVFRPSOHPHQWDULRVHVWHKRWHOHV PRWLYRGHRUJXOOR\VDWLVIDFFLyQGHWRGRVORVVXE RILFLDOHVGHODVIXHU]DVPLOLWDUHVDILOLDGRVDODHQWL GDG &RQ ODV DQWHULRUHV REUDV \ ODV GHVDUUROODGDV HQ ORVGRV~OWLPRVDxRVHO&tUFXORGH6XERILFLDOHVOR JUDXQFUHFLPLHQWRGHOHQFDSDFLGDGLQVWDODGD HQ DORMDPLHQWR H LQIUDHVWUXFWXUD HQ VHUYLFLRV  GH HVWDPDQHUDVHVROXFLRQDHVSHFLDOPHQWHHQODVHGH YDFDFLRQDO ´/D 3DOPDUD´ HO GpILFLW HQ DORMDPLHQWR GRQGHHOLQFRQIRUPLVPRHUDJHQHUDOL]DGR &RPRSXHGHQYHUUHVSHWDGRVDILOLDGRVORVUHVXO WDGRVQRSXHGHQVHUPHMRUHV\KDEODQSRUVLVRORV ODHYROXFLyQGHO&tUFXORHQORV~OWLPRVDxRVHVSUR GXFWRGHODSODQHDFLyQ\HOWUDEDMRHQHTXLSRORV LQYLWRDURGHDUDOD-XQWD'LUHFWLYD\$GPLQLVWUDGR UHVORVFXDOHVWUDEDMDPRVHQDUDVGHFXPSOLUFRQ HOREMHWRVRFLDOGHODHQWLGDG\HQODE~VTXHGDGH VXSUR\HFFLyQ\GHVDUUROORQRSUHVWHQDWHQFLyQD FRPHQWDULRVPDOLQWHQFLRQDGRV\GDxLQRVTXHKD FHQORVHQHPLJRVGHODLQVWLWXFLRQDOLGDGELHQYHQL GDVODVFULWLFDVSHURFRQVWUXFWLYDVQRDTXHOODVTXH EXVFDQVRFDYDUHOSUHVWLJLR\HOEXHQQRPEUHGHODV SHUVRQDV\VREUHWRGRODVTXHGDxDQODLPDJHQGH XQJUHPLRWDQLPSRUWDQWHFRPRHVHOGHORV6XERIL FLDOHVGHODV)XHU]DV0LOLWDUHVDFWLYRV\UHWLUDGRV )LQDOPHQWH PH SHUPLWR LQYLWDUORV SDUD TXH HQ HVWD WHPSRUDGD GH 1DYLGDG \ $xR 1XHYR YLVLWHQ QXHVWUDVVHGHVYDFDFLRQDOHVSDUDSRGHUOHVEULQGDU XQVHUYLFLRFDOLGR\DPDEOHKDFLHQGRGHVXVYDFD FLRQHVXQDH[SHULHQFLDLQROYLGDEOH


75,/2*,$ G

&ROLQD&DPSHVWUH    ¿   

$&7,9,'$'(6'(/$

',5(&&,Ð1*(1(5$/

EFKVMJPEF

$PO MB BTJTUFODJB EF MPT TVCPñDJBMFT PSHÃOJDPT EFM $PNBOEP EF MB 'VFS[B ¦SFB  FM TFÒPS 4. $BSMPT"MCFSEJ7FMÃTRVF[(BS[ÓOIJ[ÓMBQSFTFO UBDJÓO EF SFOEJDJÓO EF DVFOUBT  QSPZFDDJÓO Z EFTBSSPMMPEFMB&OUJEBE

    EFKVMJPEF &O MB DJVEBE EF 4PHBNPTP #PZBDÃ  TF MMFWÓ B DBCPFMFODVFOUSPEFMB$BKBEF3FUJSP %JSFDDJÓO EF 4BOJEBE Z FM $ÎSDVMP EF 4VCPñDJBMFT EF MBT ''..DPOMBTDPPQFSBUJWBTZBTPDJBDJPOFTEF NJMJUBSFTSFUJSBEPTEFFTUBJNQPSUBOUFSFHJÓO EFM QBÎT  $PPNVMTPSQFT  "TPCPZ Z "EVJTVSF &M TFÒPS4.$BSMPT"MCFSEJ7FMÃTRVF[(BS[ÓO %J SFDUPS(FOFSBMEFM$ÎSDVMPEF4VCPñDJBMFT IJ[Ó MBQSFTFOUBDJÓOEFSFOEJDJÓOEFDVFOUBT EFMB &OUJEBE

   EFKVMJPEF

&MFODVFOUSPEFMB$BKBEF3FUJSP %JSFDDJÓOEF 4BOJEBEZFM$ÎSDVMPEF4VCPñDJBMFTEFMBT'VFS [BT.JMJUBSFT TFMMFWÓBDBCPFOMBDJVEBEEF5VO KBDPOMB$PPQFSBUJWB.VMUJBDUJWBEF.JMJUBSFTFO 3FUJSP0$&MTFÒPS4.$BSMPT"MCFSEJ7FMÃTRVF[ (BS[ÓO IJ[Ó MB QSFTFOUBDJÓO EF SFOEJDJÓO EF DVFOUBT EF MB &OUJEBE Z FOUSFHÓ SFDPSEBUPSJPT EFM$ÎSDVMPBMPTBñMJBEPT

    KVMJPEF -B "TPDJBDJÓO EF 4VCPñDJBMFT 3FUJSBEPT EF .POUFSÎB "463.0/ ZFOTVOPNCSFFMTFÒPS 41¡"MGSFEP$BSBCBMMP0WJFEP QSFTJEFOUFZSF QSFTFOUBOUF MFHBM  IJ[P FOUSFHB EF VO FTDVEP EF MB BTPDJBDJÓO BM TFÒPS 4. $BSMPT "MCFSEJ 7FMÃTRVF[(BS[ÓO %JSFDUPS(FOFSBMEFM$ÎSDV MP EF 4VCPñDJBMFT EF MBT 'VFS[BT .JMJUBSFT  FO SFDPOPDJNJFOUPBMJOWBMVBCMFBQPZPZDPMBCP SBDJÓOCSJOEBEPTBMBTBTPDJBDJPOFTEFFTUBSF HJÓOEFMQBÎT

I‚  Ä     ¿   EFBHPTUPEF &OFMTBMÓO"ZBDVDIPEFMBTFEFWBDBDJPOBM-PT 5SVQJMMPTFO4BOUB.BSUBTFSFBMJ[ÓMB‰BVEJFO DJBQÙCMJDBEFSFOEJDJÓOEFDVFOUBTEFM$ÎSDVMP EF 4VCPñDJBMFT EF MBT 'VFS[BT .JMJUBSFT  DPO MB QSFTFODJB EF MPT IPOPSBCMFT NJFNCSPT EF MB +VOUB%JSFDUJWB1BSUJDJQBSPOTVCPñDJBMFTFOSF QSFTFOUBDJÓOEFMBTBTPDJBDJPOFTEF$0040/"7 $BSUBHFOB "$0-463& $00.*#6- "463."( Z$0"#0-463& FOUSFPUSPT


H 75,/2*,$

      ¿   EG EFTFQUJFNCSFEF

$&7,9,'$'(6'(/$

',5(&&,Ð1*(1(5$/



&M$ÎSDVMPEF4VCPñDJBMFTEFMBT''.. SFQSF TFOUBEPT QPS FM TFÒPS +5 +PTÊ ¦OHFM (PO[ÃMF[ $FTBS  4VCEJSFDUPS (FOFSBM Z 41 -VJT &OSJRVF 2VJDFOP2VJOUFSP +FGFEF3FMBDJPOFT1ÙCMJDBT  MMFWBSPOBDBCPMBWJTJUBBMQFSTPOBMEF4VCPñDJB MFTRVFTFFODVFOUSBOFOFMDFOUSPEFSFDMVTJÓO .JMJUBSEFM#BUBMMÓOEF1PMJDÎB.JMJUBS/P DPO FMÃOJNPEFQSFTFOUBSVOTBMVEPEFNPUJWBDJÓO BTÎNJTNP TFIJ[ÓFOUSFHBEFVOPTPCTFRVJPT QPSQBSUFEFMB&OUJEBE

    EFTFQUJFNCSFEF &M FODVFOUSP $3&.*-$4''..  TF MMFWÓ B DBCP FOMBDJVEBEEF#VDBSBNBOHB FOEPOEFTFMP HSÓ VOB NBTJWB DPODFOUSBDJÓO EF BñMJBEPT B MB FOUJEBE-BDPOWPDBUPSJB SFBMJ[BEBQPS"DPMTBO EFS $PPTBNJSZ$POSFTFSWBT0/( GVFVOÊYJUP SPUVOEP&MTFÒPS41-VJT&OSJRVF2VJDFOP2VJO UFSP  KFGF EF 3FMBDJPOFT 1VCMJDBT EFM $ÎSDVMP EF 4VCPñDJBMFTEFMBT''.. IJ[ÓMBQSFTFOUBDJÓO EFSFOEJDJÓOEFDVFOUBTEFMB&OUJEBEZFOUSFHÓ SFDPSEBUPSJPTEFM$ÎSDVMP

  ¿     EFTFQUJFNCSFEF &M TFÒPS TBSHFOUP NBZPS EF $PNBOEP $BSMPT "MCFS EJ  7FMÃTRVF[ (BS[ÓO  %JSFDUPS (FOFSBM EFM $ÎSDVMP EF 4VCPñDJBMFT EF MBT ''..  IJ[Ó MB QSFTFOUBDJÓO EFSFOEJDJÓOEFDVFOUBT QSPZFDDJÓOZEFTBSSPMMPEF MB &OUJEBE Z FOUSFHÓ SFDPSEBUPSJPT EFM $ÎSDVMP B MPT TFÒPSFTTBSHFOUPTNBZPSFTEFMBTEJGFSFOUFTGVFS[BT  RVFSFBMJ[BOFMDVSTPFOMB&TDVFMBEF3FMBDJPOFT$JWJ MFT.JMJUBSFTQBSBTBSHFOUPTNBZPSFTEF$PNBOEPEF JHVBMNBOFSB BUFOEJÓMBTTVHFSFODJBT JORVJFUVEFTZ SFDPNFOEBDJPOFTEFMPTTFÒPSFTTVCPñDJBMFT

   ¿        EFTFQUJFNCSFEF &OFMBVMBEFJOGBOUFSÎBEFMB&TDVFMBEF"SNBTZ 4FSWJDJPT FMTFÒPS4BSHFOUP.BZPSEF$PNBOEP  $BSMPT "MCFSEJ 7FMÃTRVF[ (BS[ÓO  %JSFDUPS (F OFSBM EFM $ÎSDVMP EF 4VCPñDJBMFT EF MBT ''..  QSFTFOUÓMBSFOEJDJÓOEFDVFOUBT QSPZFDDJÓOZ EFTBSSPMMPEFMB&OUJEBEBMPTTFÒPSFTTVCPñDJB MFTJOTUSVDUPSFTEFFTUFDFOUSPEFGPSNBDJÓO-P BOUFSJPSDPOFMñOEFRVFTFBOGBDUPSNVMUJQMJDB EPSDPOMPT4BSHFOUPTRVFBEFMBOUBOFMDVSTPEF $"1"7"/

       ¶ EFPDUVCSFEF &M TFÒPS 4BSHFOUP .BZPS EF $PNBOEP $BSMPT "MCFSEJ 7FMÃTRVF[ (BS[ÓO  %JSFDUPS (FOFSBM EFM$ÎSDVMPEF4VCPñDJBMFTEFMBT''.. IJ[Ó MBQSFTFOUBDJÓOEFSFOEJDJÓOEFDVFOUBT QSP ZFDDJÓOZEFTBSSPMMPEFMB&OUJEBEBMPTTFÒPSFT 4VCPñDJBMFTEFMB'VFS[B"ÊSFB$PMPNCJBOBZ EF  MB "SNBEB /BDJPOBM  BDBOUPOBEPT FO 4BO "OESÊT*TMBT%FJHVBMGPSNB BUFOEJÓMBTTVHF SFODJBT JORVJFUVEFTZSFDPNFOEBDJPOFTEFMPT TFÒPSFTTVCPñDJBMFT


75,/2*,$ I

',5(&&,Ð1*(1(5$/ $&7,9,'$'(6'(/$

   ¿    ¶  EFPDUVCSFEF  &M FODVFOUSP $3&.*-$4''..  TF MMFWÓ B DBCP FO 4BO "OESÊT *TMBT  FM TFÒPS 4BSHFOUP .BZPS EF$PNBOEP$BSMPT"MCFSEJ7FMÃTRVF[(BS[ÓO  %JSFDUPS(FOFSBMEFM$ÎSDVMPEF4VCPñDJBMFTEF MBT ''..  QSFTFOUÓ MB SFOEJDJÓO EF DVFOUBT  QSPZFDDJÓOZEFTBSSPMMPEFMB&OUJEBEBMB"TP DJBDJÓOEF.JMJUBSFTSFUJSBEPTEF4BO"OESÊT%F JHVBM GPSNB  BUFOEJÓ MBT TVHFSFODJBT  JORVJFUV EFTZSFDPNFOEBDJPOFTEFMPTBñMJBEPT

   ¿   EFPDUVCSFEF $PO PDBTJÓO EF MB EÊDJNB QSJNFSB "TBNCMFB /BDJPOBMEFMB'FEFSBDJÓO$PMPNCJBOBEF4VC PñDJBMFTFOSFUJSPEFMBT'VFS[BT.JMJUBSFT FMTF ÒPS4BSHFOUP.BZPSEF$PNBOEP$BSMPT"MCFSEJ 7FMÃTRVF[(BS[ÓO %JSFDUPS(FOFSBMEFM$ÎSDVMP EF 4VCPñDJBMFT EF MBT ''..  IJ[Ó MB QSFTFO UBDJÓO EF SFOEJDJÓO EF DVFOUBT  QSPZFDDJÓO Z EFTBSSPMMPEFMB&OUJEBEBMPTEFMFHBEPTEFMBT BTPDJBDJPOFTZDPPQFSBUJWBTBTJTUFOUFT

$&7,9,'$'(66('(

&2/,1$&$03(675(     EFKVOJPEF

&OFM4BMÓO#PZBDÃ DPOMBBTJTUFODJBEFNÃTEF QFSTPOBT TFSFBMJ[ÓMBDFMFCSBDJÓOEFMB/P DIFEF7FMBT DPOMBQSFTFOUBDJÓOEFVOHSVQP MMBOFSP&TUBBDUJWJEBETFEJSJHFBMPTBñMJBEPTZ TVTGBNJMJBT DPOFMÃOJNPEFCSJOEBSVOFTQBDJP EFFTQBSDJNJFOUP FODVNQMJNJFOUPEFMPCKFUP TPDJBMEFMB*OTUJUVDJÓO

     EFKVMJPEF

6OB WF[ NÃT  FM $ÎSDVMP EF 4VCPñDJBMFT EF MBT 'VFS[BT .JMJUBSFT DFMFCSÓ MB 'JFTUB EF "OJWFS TBSJP   RVF DPOUÓ DPO MB QBSUJDJQBDJÓO  EF MB PSRVFTUBi-B SFCFMJÓOu  FM DBOUBOUF WBMMFOBUP .JHVFM.PSBMFT JOUÊSQSFUFEF-PT%JBCMJUPTZFM HSVQPEFSFHHBFUPOi&LDPu&MQSFNJPNBZPS VO $IFWSPMFU4QBSLLN FMHBOBEPSGVFFMTFÒPS -VJT"OUPOJP1BSEP#FKBSBOP'&-*$*5"$*0/&4


J 75,/2*,$

   XXXX;

$&7,9,'$'(66('(

&2/,1$&$03(675(

EFTFQUJFNCSFEF

$PNPVOKVTUPZNFSFDJEPSFDPOPDJNJFOUPBMPT TVCPñDJBMFT BTDFOEJEPT BM HSBEP EF TBSHFOUP NBZPS TBSHFOUPNBZPSEF$PNBOEPZTVTFRVJ WBMFOUFTFOMBTEJGFSFOUFTGVFS[BT FM$ÎSDVMPEF 4VCPñDJBMFTEFMBT'VFS[BT.JMJUBSFTPGSFDJÓVOB DFOBEFHBMB BNFOJ[BEBQPSVOHSVQPNVTJDBM  ZTFSFBMJ[ÓMBFOUSFHBEFVOPCTFRVJPQBSBMPT TVCPñDJBMFTZTVTEJTUJOHVJEBTFTQPTBT

   ¶  EFTFQUJFNCSFEF &M %PDUPS +6"/ ."/6&- 4"/504 $"-%&3¶/  .JOJTUSPEFMB%FGFOTB/BDJPOBM BDPNQBÒBEP QPSFMTFÒPS(FOFSBM$PNBOEBOUFEFMBT''..  ZMPTTFÒPSFT(FOFSBMFTZ"MNJSBOUFDPNBOEBO UFTEF'VFS[B JNQVTJFSPOMBTKJOFUBTBMPTTFÒP SFTTVCPñDJBMFTBTDFOEJEPTBMHSBEPEF4BSHFO UP.BZPSZ+FGFT5ÊDOJDPT FODFSFNPOJBNJMJUBS RVFTFMMFWÓBDBCPFOFM$ÎSDVMPEF4VCPñDJBMFT EFMBT'VFS[BT.JMJUBSFT

   X ¶  ¶    EFTFQUJFNCSFEF

&O DFSFNPOJB QSFTJEJEB QPS FM TFÒPS BMNJSBOUF %BWJE3FOÊ.PSFOP.PSFOP +FGFEF&TUBEP.B ZPS$POKVOUPEFMBT'VFS[BT.JMJUBSFT TFMMFWÓB DBCPFOFM4BMÓO&KÊSDJUPFMBTDFOTPEFEJF[TVC PñDJBMFTBMHSBEPEF4BSHFOUP.BZPSEF$PNBO EP +FGF5ÊDOJDPEF$PNBOEPZ5ÊDOJDP+FGFEF $PNBOEP

    EFPDUVCSFEF

&ODFSFNPOJBQSFTJEJEBQPSFMTFÒPS"MNJSBOUF $"3-04 )6.#&350 1*/&%" ("--0  4FHVOEP $PNBOEBOUF EF MB "SNBOEB /BDJPOBM  TF MMFWÓ BDBCPFOFMTBMÓO#PZBDÃMBDMBVTVSBEFMVOEÊ DJNPDVSTPEF4BSHFOUPT.BZPSFTEF$PNBOEP PCUVWPFMQSJNFSQVFTUPFMTFÒPS4BSHFOUP.B ZPS+03(&"-'0/40.&3$"%0

       EFPDUVCSFEF %FMBMEFPDUVCSFTFMMFWÓBDBCPMBEÊDJ NB QSJNFSB "TBNCMFB /BDJPOBM EF MB 'FEFSB DJÓO $PMPNCJBOB EF 4VCPñDJBMFT FO SFUJSP EF MBT'VFS[BT.JMJUBSFT DPOWPDBUPSJBSFBMJ[BEBQPS FMTFÒPS4BSHFOUP1SJNFSP"3."/%03&/(*'0 035*; 1SFTJEFOUFEFMB'FEFSBDJÓO-B%JSFDDJÓO (FOFSBMEFM$ÎSDVMPEF4VCPñDJBMFTPGSFDJÓFM EFPDUVCSFBMPTEFMFHBEPTEFMBTBTPDJBDJPOFT ZDPPQFSBUJWBTVODÓDUFMEFCJFOWFOJEBFOFMTB MÓO4BOUBOEFS


75,/2*,$ K

,QIRUPDFLyQ '(6&8(172(17$5,)$63$5$ 7(0325$'$%$-$ (1/$66('(6'(/&Ì5&8/2'(68%2),&,$/(6'(/$6))00 7HQLHQGR HQ FXHQWD TXH DF WXDOPHQWHVHYLHQHHMHFXWDQGRHO SODQ GH PHUFDGHR GH OD HQWLGDG PHFDQLVPR D WUDYpV GHO FXDO OD -XQWD'LUHFWLYDGHILQLyHOFXPSOL PLHQWRGHPHWDVHQODJHQHUDFLyQ GH LQJUHVRV RSHUDFLRQDOHV \ HQ WUHRWURVDVSHFWRVHVWDEOHFLyTXH GLFKD JHVWLyQ GHEH HVWDU RULHQ WDGD DO DXPHQWR HQ HO tQGLFH GH QLYHO RFXSDFLRQDO HQ pSRFDV GH WHPSRUDGD EDMD HVWD 'LUHFFLyQ *HQHUDO FRQVLGHUD RSRUWXQR LQ IRUPDU D ORV VHxRUHV DGPLQLVWUD GRUHV VHFFLRQDOHV TXH D ILQ GH GDU FXPSOLPLHQWR D OR GLVSXHVWR SRU OD KRQRUDEOH -XQWD 'LUHFWLYD \HQDUPRQtDFRQHOREMHWRVRFLDO GHODHQWLGDGGHEULQGDUELHQHVWDU \UHFUHDFLyQDQXHVWURVDILOLDGRV\ VXVEHQHILFLDULRVDSDUWLUGHODIH FKDVHGHEHQDGRSWDUORVVLJXLHQ WHVSODQHVSURPRFLRQDOHV

/RVDILOLDGRVTXHUHDOLFHQVXVUHVHUYD FLRQHVHQXQDGHODVVHGHVYDFDFLRQD OHVGHGRPLQJRDMXHYHVHQWHPSR UDGDEDMDTXHVHDORMHQWUHVQRFKHV VRODPHQWH SDJDUDQ HO HTXLYDOHQWH D GRV /RVDILOLDGRVTXHUHDOLFHQVXVUHVHUYD FLRQHVHQXQDGHODVVHGHVYDFDFLRQD OHV GXUDQWH ORV ILQHV GH VHPDQD TXH LQFOX\DQ GtD IHVWLYR HQ WHPSRUDGD EDMD TXH VH DORMHQ WUHV QRFKHV RE WHQGUiQXQGHVFXHQWRGHOHQOD WDULIDGHODWHUFHUDQRFKH /RV GHVFXHQWRV SUHYLVWRV HQ HO QX PHUDO  \  GH OD SUHVHQWH GLVSRVLFLyQ QRVRQDFXPXODEOHVFRQORVILMDGRVSDUD HO SHUVRQDO GH DILOLDGRV PD\RUHV GH  DxRV /RVVHxRUHV$GPLQLVWUDGRUHV\HOMHIH GH5HODFLRQHV3~EOLFDVVHUiQORVUHVSRQ VDEOHVGHGDUDFRQRFHUODSUHVHQWHGLV SRVLFLyQDWUDYpVGHORVPHGLRVGHLQIRU PDFLyQLQVWLWXFLRQDO

"OGOTÉ !GOSTODE

3E×OR3- #!2,/3!,"%2$)6%,£315%:'!2:œ. $IRECTOR'ENERAL #ÓRCULODE3UBOlCIALESDELAS&&-- ,A#IUDAD (OSDVDGRGHMXOLRGHODxRHQFXUVRPLSDGUHHO60Š+LSyOLWR2UR] FR $JXLUUH TXLHQ IXHUD XQR GH ORV SULPHURV 'LUHFWRUHV GHO &tUFXOR  GH 6XERILFLDOHVGHODV))00VHDORMyHQVXVLQVWDODFLRQHV\GHVSXpVGHSDVDU XQDSUXGHQWHUHYLVWDSRUODVLQVWDODFLRQHVPHFRPHQWyTXHOHWUDQVPLWLUtD DXVWHGVXIHOLFLWDFLyQ\FRPSODFHQFLDSRUREVHUYDUHOLPSHFDEOHHVWDGRHQ TXHVHHQFRQWUDEDHOFOXE\VXKRWHO $QWHXQVRUSUHVLYRSDURUHVSLUDWRULR\JUDFLDVDXQDHILFLHQWHUHDFFLyQ GHVXHQIHUPHUtDHO60+LSyOLWR2UR]FRSXGRVHUDWHQGLGRSRUXQHTXLSR GHSDUDPpGLFRV\WUDVODGDGRGHXUJHQFLDDO+RVSLWDO0LOLWDUHQXQDDPEX ODQFLDTXHSXVRDGLVSRVLFLyQHOFOXE /DPHQWDEOHPHQWHHOSDVDGRMXHYHVGHMXOLRFRPRFRQVHFXHQFLDGH XQDDIHFFLyQSXOPRQDUHO602UR]FRGHVFDQVyHQODSD]GHOVHxRU(OYLHU QHVGHMXOLRHO(MpUFLWR1DFLRQDOOHULQGLyKRQRUHVPLOLWDUHVHQHO&DQWyQ 1RUWH\HQ-DUGLQHVGH3D](QWUHODVGLIHUHQWHVGLVWLQFLRQHV\FRQGHFRUD FLRQHVTXHVHPHQFLRQDURQHQODFHUHPRQLDUHOLJLRVDVHH[DOWyVXSDVRSRU OD'LUHFFLyQGHO&tUFXORGH6XERILFLDOHV 4XLHURVROLFLWDUUHVSHWXRVDPHQWHDO6HxRU'LUHFWRUHQQRPEUHGHPL SDGUHHOGHPLIDPLOLD\HQHOPtRSURSLRWUDQVPLWLUDWRGRVORVHPSOHD GRVFRODERUDGRUHV\IXQFLRQDULRVGHO&tUFXORQXHVWUDSHUPDQHQWH\HWHU QDJUDWLWXGSRUODVH[TXLVLWDV 6,& DWHQFLRQHVGHTXHVLHPSUHIXHREMHWR PLSDGUHODVWDQWDVYHFHVTXHVHDORMyHQVXVLQVWDODFLRQHV 5$)$(/('8$5'2252=&20$5,f2 &&1RGH%RJRWi

&85621R'(/$ $50$'$1$&,21$/ &803/($f26 (O  GH DJRVWR GH  VH UHDOL]y HO UHHQFXHQWURGHOFXUVRGHJUXPHWHV1R GHODxRTXLHQHVFHOHEUDURQVXV FXDUHQWDDxRVGHLQJUHVRHQOD$UPDGD 1DFLRQDODERUGRGHO$5&´$OPLUDQWH 3DGLOODµ

$685&8&87$&(/(%5$ 68ƒ$1,9(56$5,2

&25325$&,Ð1 ,17(51$&,21$/ '(3$5$&$,',67$6 &2/20%,$126

/D-XQWD'LUHFWLYDGHOD$VRFLDFLyQ&RORPELDQD GH 6XERILFLDOHV GH ODV )XHU]DV 0LOLWDUHV HQ 5H WLURGH1RUWHGH6DQWDQGHURIUHFLyDVXVDVR FLDGRV HO GRPLQJR  GH VHSWLHPEUH XQ EXIIHW FRQRFDVLyQGHOƒ$QLYHUVDULRGHVXIXQGDFLyQ HQHOSUHVWLJLRVRKRWHOUHVWDXUDQWH9LOOD$QWLJXD 9LOODGHO5RVDULR 

',*12'(,0,7$5 (OGHDJRVWRGHLQJUHVyHQOD(VFXHOD 0LOLWDUGH$YLDFLyQGHOD)XHU]D$pUHD&RORP ELDQDHOFXUVR1RGH6XERILFLDOHV7pFQLFRV TXLHQHV GHVSXpV GH JUDGXDGRV FRPR WpFQLFRV

WHUFHURV\HQDGHODQWHGHVGHKDFHFXDWURDxRV VHUHHQFXHQWUDQDQXDOPHQWHHQHOFRUUHJLPLHQ WRGH5R]RMXULVGLFFLyQGH3DOPLUD9DOOH(VDVt FRPRHOSDVDGRGHDJRVWRGHGHHOORV VH UHXQLHURQ XQD YH] PiV \ FHOHEUDURQ VXV  DxRVGHKHUPDQGDGDVtVHJXLUiQKDVWDODPXHU WHVL'LRV\ODVFLUFXQVWDQFLDVORSHUPLWHQ

´/D&RUSRUDFLyQ,QWHUQDFLRQDOGH3DUDFDLGLV WDV&RORPELDQRVµVHSHUPLWHLQYLWDUDORVKRP EUHV GH 7,(55$ 0$5 < $,5( TXH RVWHQWDQ HO WtWXOR GH SDUDFDLGLVWDV D TXH VH YLQFXOHQ GH IRUPD GHFLGLGD D OD FRUSRUDFLyQ SDUD DILDQ]DU ORV QH[RV GH DPLVWDG \ FRPSDxHULVPR DXQDGR DODPtVWLFDSURSLDGHORVFDEDOOHURVGHODVDODV GRUDGDV 0D\RUHVLQIRUPHV &UD1R(GLILFLR%RFKLFDRILFLQD 7HOpIRQR &HOXODU²


L 75,/2*,$

"OGOTÉ SEPTIEMBREDE "OGOTÉ AGOSTODE

3E×OR3ARGENTO-AYOR #!2,/3!6%,£315%:'!2:œ. $IRECTOR#ÓRCULODE3UBOlCIALESDELAS&&-- (ONORABLE*UNTA$IRECTIVA #IUDAD !PRECIADOSE×ORDIRECTOR (ESIDOSIEMPREDEFENSORDELAESTRUCTURAHUMANADELENTE PUESMECABE ELINMODESTOORGULLODESERSUFUNDADORYDEFENSORDEMUCHASDELASACTUA CIONESDELA$IRECCIØN(OY NUEVAMENTE ALABANDONARELCLUB ESJUSTORESALTAR LAFORMACOMOSEESTÉMANEJANDOESTAIMPORTANTEENTIDAD DESTACARELPRO GRESOENSUSINSTALACIONES LAGENTILATENCIØNDESUSFUNCIONARIOS)GUALMENTE CONSIDERANDO QUE ASÓ COMO SOMOS DEFENSORES DE SUS ACTUACIONES TAMBIÏN SOMOSCRÓTICOS PERORESPETUOSOS DESTACAMOSQUECUANDOHICIMOSMÞLTIPLES SUGERENCIASPARASUMEJORAMIENTO HEMOSSIDOESCUCHADOSYLASSUGERENCIAS SEHANCORREGIDOATIEMPO %XISTEN NOOBSTANTE LOSDETRACTORESMUYACOSTUMBRADOSARECLAMARENFOR MAIRRESPETUOSA QUENOUSANLOSCANALESGUBERNATIVOS0EROTODOESTONOSHA PERJUDICADOPARAMANTENERELBUENNOMBREDELSUBOlCIALYENLOCONCERNIEN TEAALGUNASCONQUISTASALASQUESIEMPRELOSRETIRADOSHEMOSASPIRADO COMO LAPARTICIPACIØNPORLOMENOSENLASSUBDIRECCIONESDELASCUATROSEDESYEN LOSCARGOSADMINISTRATIVOS &ELICITACIONESALSE×OR$IRECTORYASU*UNTA$IRECTIVA3ÏDELASCAPACIDADES YELAMPLIODESEODESERVIR$ESEOMANIFESTARQUEESGRATOPARALOSSUBOlCIALES QUEVIVENFUERADE"OGOTÉ QUEPOCONOSSERVIMOSDESUSINSTALACIONES ENCON TRARTODOSLOSAFECTOSYCADADÓANOSENORGULLECEMÉSHACERPARTEDEESTAGRAN FAMILIAMILITAR

3E×OR #!2,/3!,"%2$)6%,£315%: 3ARGENTO-AYORDE#OMANDO $)2%#4/2#°2#5,/$%35"/&)#)!,%3 %3$ !SUNTO2ECONOCIMIENTO GRATITUDYPETICIØN .OSOTROS TODOS LOS INSCRITOS AL PROGRAMA DE !CTIVACIØN DEL !DULTO -AYOR QUETANGENTILMENTEDESARROLLAEL#ÓRCULODE3UBOlCIALESPARABENElCIODELOS AlLIADOS PRESENTAMOS AL SE×OR $IRECTOR Y A SU *UNTA $IRECTIVA EL MÉS ATEN TO Y CORDIAL SALUDO DE AGRADECIMIENTO POR SU EXCELENTE LABOR EN BENElCIO DELADULTOMAYORYDESUSESPOSASOBENElCIARIAS3UCOLABORACIØN AMISTADY COMPA×ERISMOLOSHACEDIGNOSYMERECEDORESDEESTERECONOCIMIENTOQUEES MUYJUSTO ,ESSOLICITAMOS PORFAVOR NOSSIGANAPOYANDOPARASATISFACCIØNPERSONALDE USTEDESYNOSOTROS/FRECEMOSNUESTROAPOYO RESPALDOYCOLABORACIØNENTO DOSLOSACTOSQUESEANNECESARIOS 1UEREMOSDEJARCONSTANCIADERECONOCIMIENTOYGRATITUDALAlSIOTERAPEUTA %RICA !PERADOR 2INCØN POR LA GRAN LABOR QUE VIENE DESARROLLANDO CON TANTO PROFESIONALISMO CARI×O VOLUNTADESFUERZOYAPOYOELLASEHAGANADOELCARI×O LACONlANZAYLAVOLUNTADDETODOESTEGRUPOQUEASISTIMOSALPROGRAMA0EDI MOSENCARECIDAMENTEALSE×ORDIRECTORSUVALIOSAINTERVENCIØNPARAQUEESTA PROFESIONALNOSSIGADIRIGIENDOPORMUCHOTIEMPOPARANUESTRASATISFACCIØN !TENTAMENTE

'RUPODE!CTIVACIØNDEL!DULTO-AYOR #ÓRCULODE3UBOlCIALES

#ONAFECTO 3ARGENTO0RIMERO (ORACIO#ADENADELA#RUZ 0ALMIRADEJULIODE

#ARTAGENA DESEPTIEMBREDE

3E×OR 3-%*##!2,/3!,"%2$)6%,£315%:'!2:œ. $IRECTOR'ENERAL #ÓRCULODE3UBOlCIALESDELAS&&-- %3- !PRECIADO3E×OR 1UEREMOSDARAUSTEDNUESTROSMÉSSINCEROSAGRADECIMIENTOSPORTODASLAS ATENCIONESRECIBIDASDURANTELOSDÓASDEESTADÓAENLASEDEVACACIONAL%L$A RIÏN TANTOAUSTED COMOATODOELEQUIPOQUEESTÉBAJOSUSØRDENES %L4ODOPODEROSODERRAMEBENDICIONESSOBREESTASEDEYTODOSUPERSONAL9 PORSUCONDUCTOAGRADEZCOALSE×OR3-%*#,UIS2AÞL2INCØN"LANCOYDEMÉS MIEMBROSDEESTABELLASEDE PARAQUECONTINÞENCONESAPOLÓTICADEATENCIØN YSERVICIOALOSAlLIADOS FAMILIARESEINVITADOSQUEENALGÞNMOMENTOLLEGAN AESTEPARAÓSO .OLEDECIMOSADIØSSINOUNHASTALUEGO PORQUE SI$IOSLOPERMITE PRONTO VOLVEREMOSAMOLESTARLOSYSEREMOSMÉS #ORDIALMENTE

*42,UIS%DUARDO2ODRÓGUEZ-EDINA 0RESIDENTE 'RUPO-ADRÞGUELEALA3ALUD (OSPITAL.AVALDE#ARTAGENA

3E×OR3ARGENTO-AYOR #!2,/3!,"%2$)6%,£315%: $IRECTOR'ENERAL#ÓRCULODE3UBOlCIALESDELAS&&-- #IUDAD %NNOMBREDELA*UNTA$IRECTIVADELA!SOCIACIØN0ALMIRANADE3UBOlCIALES DELAS&UERZAS-ILITARESh!PALSUREv RECIBAUNEFUSIVOSALUDOEXTENSIVOASUGRU PODETRABAJOQUETANEXITOSAMENTEDIRIGENUESTRO#ÓRCULO %LOBJETODELAPRESENTEESHACERLECONOCERQUENUESTRAASOCIACIØNVISITØLA SEDE%L$ARIÏNEN-ONTENEGRO 1UINDÓO CONUNGRUPODEAlLIADOSLOSDÓAS YDEJULIO%SMIOBLIGACIØNCOMOPRESIDENTEDEh!PALSUREvINFORMARLODELAS EXCELENTESATENCIONESDELASQUEFUIMOSOBJETOPORPARTEDELPERSONALADMI NISTRATIVOQUEDETANBUENAFORMALABORAENESA NUESTRASEDEVACACIONAL 0ARAMÓESMUYGRATOSERELRECEPTORDETANTASPALABRASDEAGRADECIMIENTO EXPRESADASPORELPERSONALQUEVISITØLASEDEENLOSDÓASPASADOS DIRIGIDASALAS PERSONASQUECONTANTAENTREGANOSPRESTARONSUSSERVICIOS 4IENEUSTED SE×OR$IRECTOR ENLASMANOSDELAADMINISTRACIØNDELASEDE%L $ARIÏNUNGRUPOCONUNAENTREGATOTALENELCUMPLIMIENTODESUSOBLIGACIO NES%NNOMBREDETODOSLOSDELGRUPODEVISITANTESENESTAOCASIØN RECIBA NUESTROSAGRADECIMIENTOSYDEPARTEMÓAMILFELICITACIONESPORTANEXCELENTE ATENCIØNEINSTALACIONES !TENTAMENTE

3-¸!NDRÏS4OVAR-ENDOZA 0RESIDENTE!0!,352%


75,/2*,$ M

/D3DOPDUD

9,6,7$68%2),&,$/5(6&$7$'2 23(5$&,Ð1´-$48(µ 0X\ FRPSODFLGR HVWXYR HO VH xRU&DER3ULPHUR-RVp0LJXHO $UWHDJD HQ ODV QXHYDV LQVWDOD FLRQHV GHO FRPSOHMR KRWHOHUR $GHPiVGHGLVIUXWDUGHODVHGH YDFDFLRQDO ´/D 3DOPDUDµ GH SDUWLy FRQ ORV TXH DOJXQD YH] IXHURQ VXV FRPSDxHURV GH OD ERUHV\DTXHDQWHVGHLQJUHVDU HQ HO HMpUFLWR FRPR VXERILFLDO ODERUy FRPR PHVHUR HQ OD VHGH

&23$'()Ô7%2/9(7(5$126

&(/(%5$&,Ð1 'Ì$'(/3$'5(

&RQVDWLVIDFFLyQVHOOHJyDOD ILQDO GHO WRUQHR &RSD 9HWH UDQRVTXHGXUDQWHHOSULPHU VHPHVWUH FRQWy FRQ OD SUH VHQFLDGHVHJXLGRUHV &DGD ILQ GH VHPDQD HQFRQ WUDURQ HQ HVWH PDJQtILFR GHSRUWH OD RSRUWXQLGDG GH UHHQFRQWUDUVH FRQ OD HPR FLyQ GHO JRO \ GLVIUXWDU HQ IDPLOLDODVPiVHPRFLRQDQWHV MXJDGDV £0LOIHOLFLWDFLRQHVDORV JDQDGRUHV

$O VRQ GH XQ EXHQ FRQMXQWR QRUWHxR \XQH[TXLVLWRSODWRPL[WRVHOOHYyD FDER OD FHOHEUDFLyQ GHO GtD GHO 3DGUH TXHUHXQLyDPiVGHSHUVRQDVTXH OOHQDURQ GH DOHJUtD OD VHGH YDFDFLRQDO /D3DOPDUD


EN 75,/2*,$

/RV7UXSLOORV

     +5+6#&'.)4721  

    

(OJUXSRGHDILOLDGRVGHOD&DMDGH5HWLURGHODV))00²&5(0,/ IXHUHFLELGRHQODVHGHYDFDFLRQDODOVRQGHJDLWDV\WDPERUDV\GLV IUXWyGHOSODQGRUDGRWUXSLOORVHQHVWHSDUDtVRWURSLFDO

(QODVLQVWDODFLRQHVGHOVDOyQDXGLWRULRGLVFRWHFDÌ&$52VHRIUHFLy OD ELHQYHQLGD DO FXUVR 1R  GH 6XERILFLDOHV GH OD HVFXHOD ´$QGUpV 0'tD]µGHOD)$&$VtPLVPRDUULEDURQDQXHVWUDVHGHJUXSRVGH %LHQHVWDU(MpUFLWRORVVHxRUHVVXERILFLDOHVGHODEDQGDGHP~VLFRVGH OD$UPDGD\PXFKRVPiV

    U   

Ä    <D HVWi OLVWD ODQXHYDFDQFKD GH I~WERO HQ OD VHGH YDFDFLR QDO /RV 7UXSL OORV &RQ HVWD L P S R U W D Q W H REUDVHPHMRUD OD LQIUDHVWUXF WXUD GH OD HV FXHODGHI~WERO \ OD SUiFWLFD GHOGHSRUWHGH PXOWLWXGHV HQ OD VHGH YDFD FLRQDO *UDFLDV DO HVIXHU]R GH OD DGPLQLVWUD FLyQ HVWH SUR \HFWR HV XQD UHDOLGDG

       (O  GH MXOLR OD VHGH YDFDFLRQDO VH KRQUy FRQ OD YLVLWD GHO VHxRU 3UHVLGHQWHGHOD5HS~EOLFD'UÉOYDUR8ULEH9pOH]HQGHVDUUROORGH ODVDFWLYLGDGHVGHJRELHUQRHQHVWHGHSDUWDPHQWR(OVHxRU3UHVLGHQWH DSURYHFKyODRFDVLyQSDUDIHOLFLWDUDOJUXSRGH6XERILFLDOHV\HPSOHD GRVTXHSUHVWDQVXVVHUYLFLRVHQ/RV7UXSLOORV


75,/2*,$ EE

   

  EF      

        'HO  DO  GH VHSWLHPEUH OD VHGH YDFDFLRQDO /RV 7UXSLOORV IXH YLVLWDGD SRU ORV VHxRUHV DX[LOLDUHV \ VHFUHWDULRV GH ODV DJUHJDGXUtDV PLOLWDUHVQDYDOHVDpUHRV\GHSROLFtDDFUHGLWDGRVHQ&RORPELD

'RV QXHYRV VDORQHV VHUiQ SXHVWRV DO VHUYLFLR HQ OD WRUUH KRWHOHUD /D UHFXSHUDFLyQ GH HVWRV LPSRUWDQWHV HVSDFLRV SHUPLWLUi EULQGDU PHMRUHV RSRUWXQLGDGHV D QXHVWURV DILOLDGRV SDUD TXH UHDOLFHQ VXV UHXQLRQHV \ HYHQWRVVRFLDOHV

   Ä /D(VFXHODGH)~WERO/RV7UXSLOORVVHFRQVROLGDFRPRXQVHPLOOHUR GHIXWXUDVHVWUHOODVGHOGHSRUWHEDMRODWXWHODGHODPD\RUJORULDGHO EDORPSLpFRORPELDQR&DUORV´(O3LEHµ9DOGHUUDPD

  





 EEw   ¿        (OSDVDGRPHVGHRFWXEUHODVHGH/RV7UXSLOORVVHHQJDODQyFRQOD YLVLWD GH ORV VHxRUHV VDUJHQWRV PD\RUHV DVLVWHQWHV DO ƒ &XUVR GH &DSDFLWDFLyQ \ /LGHUD]JR SDUD 6DUJHQWRV 0D\RUHV GH &RPDQGR (O &RPDQGR&RQMXQWR&DULEHEULQGyXQDFHQDGHJDODDORVVHxRUHVVXE RILFLDOHV\VXVGLVWLQJXLGDVIDPLOLDVHQHOVDOyQ$\DFXFKR



  

(OGHVHSWLHPEUHHQODVHGH/RV7UXSLOORVVHUHDOL]yXQJUDQ PDQRDPDQRPXVLFDOHQWUHOD$FDGHPLD9DOOHQDWD\ODRUTXHVWD5D~O \/DV&KLFDVGHO6ZLQJFRQODDVLVWHQFLDGHSHUVRQDVTXHGLVIUX WDURQDOPi[LPRODFHOHEUDFLyQ


EF 75,/2*,$

(O'DULpQ

/D6HGH9DFDFLRQDO(O'DULpQSHQVDQGRHQHOELHQHVWDUGHVXVDILOLDGRVKDHVWDEOHFLGRFRQYHQLRVLPSRUWDQWHV FRQORVSDUTXHVWHPiWLFRVGHODUHJLyQHVDVtFRPREULQGDDVXVYLVLWDQWHVDOD6HGH9DFDFLRQDOODYHQWDGHORV SDVDSRUWHVSDUDORV3DUTXHVGHO&DIp\3$1$&$VHREWLHQHXQGHGHVFXHQWRDOFDQFHODUORVHQHIHFWLYR

3$548(1$&,21$/'(/&$)e

([WHQVLyQ GHO 3DUTXH GHO &DIp FRQVXVGHOLPLWDFLRQHV

8ELFDGRHQHOPXQLFLSLRGH0RQ WHQHJUR4XLQGtRDNPGHGLVWDQ FLDGHODVHGHYDFDFLRQDO(O'DULpQ QXHVWURV YLVLWDQWHV GLVIUXWDUiQ GH WRGDODPDJLDTXHHQFLHUUDODFXOWX UD FDIHWHUD HQ HVWD UHJLyQ GHO SDtV GH VX KLVWRULD VXV OH\HQGDV PLWRV IROFORU FRPLGDV \ DPELHQWH TXH OD FRQYLHUWHQ HQ OD PiV LPSRUWDQWH H LQWHUHVDQWH GH OD ]RQD FDIHWHUD GHO GHSDUWDPHQWR (O UHFRUULGR SRU HO 3DUTXH GHO &DIp LQLFLD D ODV  DP \ WHUPLQD D ODV  SP 'XUDQWH pVWH HO YLVLWDQ WH SRGUi GLVIUXWDU GH XQ H[TXLVLWR FDIpHQODWLHQGDGH-XDQ9DOGH]DVt

FRPR GH XQD DPSOLD \ YDULDGD JDV WURQRPtDWtSLFDGHODUHJLyQGHLJXDO IRUPDSRGUiDGTXLULUJUDQYDULHGDG GH VRXYHQLUV FRPR UHFXHUGRV GH ODYLVLWDDHVWHOXJDUGHQRPLQDGRHO SDUTXHGHORVFRORPELDQRV (O3DUTXHFXHQWDFRQDWUDFFLR QHVSDUDGLYHUVLyQ\HQWUHWHQLPLHQ WR TXH VHUiQ GHO DJUDGR GH QLxRV \ DGXOWRV 6H GHVWDFDQ HO 6KRZ GHO &DIp HO 6KRZ GH ODV 2UTXtGHDV HO UHFRUULGR SRU OD UpSOLFD GH OD HVWD FLyQ GHO WUHQ GH $UPHQLD FDEDOJD WDVYDULHGDGGHDWUDFFLRQHVPHFiQL FDV\ORVVHQGHURVHFROyJLFRVHQWUH RWUDVDWUDFFLRQHV

3$548(1$&,21$/'(/$&8/785$ $*523(&8$5,$´3$1$&$µ

(O 3DUTXH 3$1$&$ VH HQ FXHQWUDXELFDGRHQHOPXQLFL SLR GH 4XLPED\D 4XLQGtR D NPGHODVHGHYDFDFLRQDO(O 'DULpQ&RQXQDH[WHQVLyQGH KHFWiUHDVRIUHFHDORVYLVL WDQWHVXQGtDHQWHURGHGLYHU VLyQ FRQ OD SRVLELOLGDG GH UH FRUUHU VHQGHURV URGHDGRV GH MDUGLQHV\FXOWLYRVLQWHUDFWXDU FRQDQLPDOHVTXHKDFHQ SDUWHGHODFROHFFLyQGH]RROR

JtD GRPpVWLFD PiV JUDQGH GHO PXQGR DVt FRPR GLVIUXWDU GH VKRZ SUHVHQWDFLRQHV RFKR HVWDFLRQHV\FLQFRVRUSUHQGHQ WHVH[KLELFLRQHVGHDQLPDOHV (Q 3$1$&$ ORV YLVLWDQWHV DSUHFLDUiQ ODV PDUDYLOODV GHO FDPSR SRGUiQ LQWHUDFWXDU FRQHOPXQGRDQLPDO\SRGUiQ GHJXVWDU XQD DPSOLD \ YDULDGD JDVWURQRPtD WtSLFD GH OD UH JLyQ 'H LJXDO IRUPD HQFRQ WUDUiQ XQD JUDQ GLYHUVLGDG GH VRXYHQLUV FRPR UHFXHUGR GH ODYLVLWDDO3DUTXH

$&7,9,'$'(60(6(6'(-81,2-8/,2$*26726(3 9,6,7$6563-26e5,&$5'20$58/$1'$

9$/(1&,$/,%(5$'223(5$&,Ð1-$48(  /D VHGH YDFDFLRQDO (O 'DULpQ DWHQGLy DO VHxRU VDUJHQWR SUL PHUR -RVp 5LFDUGR 0DUXODQGD 9DOHQFLDVXERILFLDOOLEHUDGRHQOD RSHUDFLyQ MDTXH TXLHQ FRPSDU WLyPRPHQWRVDJUDGDEOHVHQHVWD VHGH \ UHFRUULy ODV LQVWDODFLRQHV GHO 3DUTXH 1DFLRQDO GHO &DIp MXQWR FRQ VX IDPLOLD &RQ HVWH WLSR GH DFWLYLGDGHV SURJUDPDGDV OHGLHURQODELHQYHQLGDDHVWHYD OHURVRKRPEUHPRWLYRGHHMHP SORSDUDWRGDODVXERILFLDOLGDG(O

6HxRU6DUJHQWR3ULPHUR0DUXODQGDVHVLQWLyRUJXOORVRGHOEXHQPDQHMR\HO SURJUHVRTXHKDWHQLGRHO&tUFXORGH6XERILFLDOHVHQORV~OWLPRVDxRV

&216758&&,Ð118(9$5(&(3&,Ð1   &RQ HO iQLPR GH EULQGDU XQ PHMRUVHUYLFLRDODOOHJDGDGHWRGRV QXHVWURV GLVWLQJXLGRV KXpVSHGHV D ODVHGHYDFDFLRQDOVHGLRDOVHUYLFLR OD QXHYD UHFHSFLyQ GHO KRWHO TXH FXHQWD FRQ DPSOLDV LQVWDODFLRQHV \ ORFDFLRQHV VHUYLFLR GH EDxR GLV SHQVDGRUGHDJXD\FDIHWHUtD7RGR HVWR MXQWR D XQ HTXLSR GH WUDEDMR PX\ FDOLGR TXH GD OD PiV FRUGLDO ELHQYHQLGD D QXHVWURV YLVLWDQWHV D HVWDVWLHUUDVFDIHWHUDV


75,/2*,$ EG

2%5$'(&(55$0,(172<(175$'$

35,1&,3$/ 6HUHDOL]yODREUDGH FHUUDPLHQWR \ FRQV WUXFFLyQ WtSLFD GH OD HQWUDGD FRQ XQ GLVHxR LPSRQHQWH DFRUGH D OD UHJLyQ FDIHWHUD /D HQWUDGD VH HQFXHQWUD GRWDGD GH XQ FRPSOH WR FLUFXLWR FHUUDGR GH WHOHYLVLyQ DVt FRPR GH OD SUHVHQFLD H[WHUQD \ FRQWLQXDGHSHUVRQDOGHVHJXULGDGGHOEDWDOOyQGHLQJHQLHURV1R´)UDQFLVFR -RVp&LVQHURVµ

&(/(%5$&,Ð1'Ì$'(/$,1'(3(1'(1&,$ 6H OOHYy D FDER HO GHMXOLRGHOD L]DGDGHOSDEHOOyQQD FLRQDO\VHHQWRQDURQ ODV QRWDV GHO +LPQR 1DFLRQDO SRU SDUWH GH QXHVWURV DILOLDGRV \ EHQHILFLDULRV HQ FRPSDxtD GHO SHUVR QDOGHHPSOHDGRVGH OD VHGH YDFDFLRQDO (O 'DULpQ(VWHDFWRVLU YLyGHDSRUWHFRPRXQJUDQLWRGHDUHQDDOJUDQOODPDGRQDFLRQDOGHHVWHGtDHQ FRQWUDGHOVHFXHVWURIODJHORTXHDIHFWDDPXFKDVIDPLOLDV\KRJDUHVGHQXHVWUR SDtV

&216758&&,Ð1&$1&+$0Ô/7,3/(  &RQHOILQGHRIUHFHU PiVHVSDFLRVGHUHFUHD FLyQ\HVSDUFLPLHQWRHQ ODV LQVWDODFLRQHV GH OD VHGH YDFDFLRQDO (O 'D ULpQ VH OOHYy D FDER OD FRQVWUXFFLyQGHXQDFDQ FKDP~OWLSOHTXHRIUHFH OD SUiFWLFD GH GHSRUWHV FRPR PLFURI~WERO ED ORQFHVWR\YROOH\EDOO

&216758&&,Ð13$548($'(526 6HUHDOL]yODFRQV WUXFFLyQ GH QXHYH SDUTXHDGHURV FX ELHUWRV HQ XQ PD WHULDO WtSLFR FRPR HVODJXDGXDORTXH KDFH HPEHOOHFHU HO SDLVDMH GH OD VHGH YDFDFLRQDOFRQGLVH xRVSURSLRVGHHVWDV WLHUUDVFDIHWHUDV

$/08(5=2'(&203$f(526 (OGHDJRVWRGH  FRQ OD DVLVWHQ FLD GH  6XERILFLD OHVVHOOHYyDFDERHQ ODV LQVWDODFLRQHV GH OD VHGH YDFDFLRQDO (O 'DULpQ XQ DOPXHU]R GHFRPSDxHURVSDUD HOSHUVRQDOGHVHxRUDV \VHxRUHVVXERILFLDOHV GHGLIHUHQWHVJUDGRV TXLHQHVOXHJRGHGRV VHPDQDV GH HVWXGLR SUHVHQWDURQ VXV H[i PHQHVSDUDDVFHQVRDOJUDGRLQPHGLDWDPHQWHVXSHULRUHQHOPHVGHPDU]R GH(O&tUFXORGH6XERILFLDOHVGHODV)XHU]DV0LOLWDUHVOHVGHVHDPXFKRV p[LWRV

9,6,7$$62&,$&,Ð13$/0,5(f$'( 68%2),&,$/(6(15(7,52'(/$6))00´$3$/685(µ /RVGtDV\GHMXOLR GH  OD VHGH YDFD FLRQDO(O'DULpQUHFLELy OD YLVLWD GHO JUXSR GH OD $VRFLDFLyQ3DOPLUHxDGH 6XERILFLDOHV 5HWLUDGRV GH ODV ))00 TXLHQHV FRPSDUWLHURQ \ JR]D URQHQFRPSDxtDGHVXV GLVWLQJXLGDV IDPLOLDV GH OD PDJLD TXH HQFLHUUDQ HVWDV WLHUUDV FDIHWHUDV YLVLWDURQHO3DUTXH1DFLRQDOGHO&DIp\GLVIUXWDURQGHXQDQRFKHGHUXPEDHQ QXHVWUDIRQGDEDU(O&DUULHODVtFRPRGHPXFKDVPiVDFWLYLGDGHVGHUHFUHD FLyQ\HVSDUFLPLHQWRHQVXSDVRSRUHVWHKHUPRVRVLWLR$VtVHOOHYDURQFRQVLJR HOPiVJUDWRUHFXHUGRGHVXSDVRSRUpVWDVXVHGHYDFDFLRQDO

9,6,7$*5832'(/$7(5&(5$('$'´0$'5Ô*8(/( $/$6$/8'µ'(/+263,7$/1$9$/'(&$57$*(1$  (O FDULVPiWLFR JUXSR GH OD WHU FHUD HGDG ´0D GU~JXHOH D OD 6D OXGµ GHO +RVSLWDO 1DYDO GH &DU WDJHQD YLVLWy OD VHGH YDFDFLRQDO (O'DULpQORVGtDV  DO  GH MXOLR GH  $OOt SX GLHURQ GLVIUXWDU GH ODV ERQGDGHV GHO (MH &DIHWHUR FRQRFLHURQHO3DUTXH1DFLRQDOGHO&DIp3DUTXH1DFLRQDOGHOD&XOWXUD$JUR SHFXDULD´3$1$&$µWDPELpQUHFRUULHURQHQEDOVDHOUtR/D9LHMD\IXHURQDORV WHUPDOHVGH6DQWD5RVDGH&DEDOHVWHJUXSRGHMyXQEHOORPHQVDMHGHXQLyQ \DPLVWDGDVXSDVRSRUHVWDVWLHUUDVEDMRODDFHUWDGDGLUHFFLyQGHOVHxRU-HIH 7pFQLFR$5&Š/XLV5RGUtJXH]TXLHQFRQVXFRRUGLQDGDSODQHDFLyQOOHYyD FDERHVWHH[LWRVRSDVHR


EH 75,/2*,$

6HUYLFLRV

&

M.JOJTUFSJPEF"HSJDVMUVSBZ%FTBSSPMMP3VSBM DPOTJEFSB RVF MPT NJFNCSPT EF MBT 'VFS[BT .JMJUBSFT EFMB1PMJDÎB/BDJPOBMZTVTGBNJMJBT TPOEFWJUBMJNQPSUBODJBQBSBFMTFDUPSBHSPQFDVB SJPDPMPNCJBOP $PNP SFUSJCVDJÓO B FTUPT IÊSPFT EF MB 1BUSJB  FM .JOJTUFSJPEF"HSJDVMUVSBZ%FTBSSPMMP3VSBMIBJN QMFNFOUBEPVOBMÎOFBFTQFDJBMEFDSÊEJUPFODPO EJDJPOFTGBWPSBCMFT QBSBRVFQVFEBOMMFWBSBDBCP QSPZFDUPTBHSPQFDVBSJPTRVFMFTCSJOEFOBFMMPTZB TVTGBNJMJBTVOTVTUFOUPFOFTFDBNQPBMRVFUBOUP MFIBOFOUSFHBEP `(SBDJBT)ÊSPFTEFMB1BUSJB "OESÊT'FMJQF"SJBT-FJWB .JOJTUSPEF"HSJDVMUVSBZ%FTBSSPMMP3VSBM

{ {

$VÈMFTFMPCKFUJWPEFFTUBMÓOFBEFDSÏEJUP

&OUSFHBSSFDVSTPTEFDSÊEJUPDPOVOBUBTBEF JOUFSÊTCMBOEB FTRVFNBGBWPSBCMFEFHBSBO UÎBT Z BDPNQBÒBNJFOUPUÊDOJDPZñOBODJFSP QBSB RVFMPTNJFNCSPTEFMB'VFS[B1ÙCMJDBZTVTGBNJ MJBTQVFEBOMMFWBSBDBCPQSPZFDUPTBHSPQFDVBSJPT

2VJÏOFTQVFEFOBDDFEFS

3FTFSWJTUBTEFQSJNFSBDMBTF ZEFOUSPEFÊTUPT QSFGFSFOUFNFOUFMPTSFTFSWJTUBTEFQSJNFSBMÎ OFB SFTFSWJTUBEFIPOPS TPMEBEPTDBNQFTJOPT TPM EBEPTRVFQSFTUBOTFSWJDJPNJMJUBS TPMEBEPTQSPGF TJPOBMFT  JOGBOUFT EF NBSJOB RVF QSFTUBO TFSWJDJP NJMJUBS JOGBOUFTEFNBSJOBQSPGFTJPOBMFT BVYJMJBSFT EFQPMJDÎBCBDIJMMFSFT BVYJMJBSFTEFQPMJDÎBSFHVMB SFT BHFOUFTEFQPMJDÎB NJFNCSPTEFMBGVFS[BQÙ CMJDB  QFOTJPOBEPT EJTDBQBDJUBEPT RVF OP IBZBO TJEPPñDJBMFT 4VCPñDJBMFT EF MB 'VFS[B 1ÙCMJDB $POZVHFT  DPNQBÒFSPT BT  QFSNBOFOUFT Z GBNJMJBSFT FO QSJ NFSHSBEPEFDPOTBOHVJOJEBE QBESFTFIJKPT EF MPTBOUFSJPSFT

"DUJWJEBEFTGJOBODJBCMFT $SÏEJUPTDPOUBTBTVCTJEJBEB X 1MBOUBDJÓOZNBOUFOJNJFOUPEFDVBMRVJFS



 DVMUJWP X $PNQSBEFNBRVJOBSJBZFRVJQPTQBSBMB   QSPEVDDJÓOPMBUSBOTGPSNBDJÓOQSJNBSJBEFM  QSPEVDUP X $POTUSVDDJÓOEFJOGSBFTUSVDUVSBQBSBMB   QSPEVDDJÓOPMBUSBOTGPSNBDJÓOQSJNBSJBEFM  QSPEVDUP X "EFDVBDJÓOEFUJFSSBTZNBOFKPEFMSFDVSTP   IÎESJDP X /PSNBMJ[BDJÓOEFDBSUFSB 1BSBBRVFMMPTRVF  TPMJDJUBSPODSÊEJUP"*4ZUJFOFOMBDPOEJDJÓO   EFQFRVFÒPQSPEVDUPS *OGPSNBDJÓO   .JOJTUFSJP%FGFOTB/BDJPOBM UFM

{ {

$ØNPQVFEFBDDFEFS

1BSBBDDFEFSBFTUBMÎOFBFTQFDJBMEFDSÊEJUP  MPTCFOFñDJBSJPTEFCFSÃOBDFSDBSTFBMPTCBO DPTZQSFTFOUBSVOQSPZFDUPBHSPQFDVBSJPRVFEF NVFTUSFWJBCJMJEBEUÊDOJDB ñOBODJFSBZBNCJFOUBM

2VÏEPDVNFOUPTEFCPQSFTFOUBSQBSBTPMJ DJUBSFMDSÏEJUP

-PTDFOUSPTEF$0310*$"ZMPTDPPSEJOBEPSFTBMPTDVBMFT QVFEFODPOUBDUBSMPT*OUFSFTBEPTTPOMPTTJHVJFOUFT X5JCBJUBUÃ $VOEJOBNBSDB $BSMPT(VFSSFSP X5VSJQBOÃ $ÓSEPCB "MCFSUP$BMVNF

X 6OQSPZFDUPQSPEVDUJWPBHSPQFDVBSJP

X&M.JSB /BSJÒP 8JMMJBN0SUJ[

X %PDVNFOUPTFYJHJEPTUSBEJDJPOBMNFOUFQPSMPT

 CBODPTQBSBBDDFEFSBMDSÊEJUP

{

2VÏHBSBOUÓBTOFDFTJUPQBSBBDDFEFSBFTUB MÓOFB

5BTB EF JOUFSÊT %5' m   1MB[PT )BTUB  BÒPT1FSJPEPEFHSBDJB)BTUBBÒPT /PUB1MB[PTZQFSJPEPTEFHSBDJBBDPSEFTDPOFMóVKPEFDBKB EFMQSPZFDUP

&TUFUSÃNJUFTFMMFWBBDBCPFOFMNPNFOUPEFTPMJ DJUBSFMDSÊEJUPBOUFMPTCBODPT

{

$0310*$"QSFTUBSÃFMTFSWJDJPEFBDPNQBÒB NJFOUPUÊDOJDPZñOBODJFSPQBSBMBGPSNVMBDJÓOEF MPTQSPZFDUPTZFMEFTBSSPMMPEFÊTUPT

1BSBMBT'VFS[BT.JMJUBSFT MJCSFUBNJMJUBSPDÓ EJHPNJMJUBS1BSBMB1PMJDÎB/BDJPOBM DBSOÊQPMJDJBM 1BSBQFOTJPOBEPTEJTDBQBDJUBEPT PñDJPEFMBSFT QFDUJWBGVFS[B EPOEFTFBDSFEJUFDVBMRVJFSHSBEP EF EJTDBQBDJEBE 1BSB DÓOZVHFT  SFHJTUSP DJWJM EF NBUSJNPOJP1BSBDPNQBÒFSPQFSNBOFOUF QBESFT FIJKPT EFDMBSBDJÓOKVSBNFOUBEB

-PTNJFNCSPTEFMBT'VFS[BT"SNBEBTRVF EF BDVFSEPDPOTVTBDUJWPT TFDBUBMPHVFODPNPQF RVFÒPT NFEJBOPTZHSBOEFTQSPEVDUPSFTBHSPQF DVBSJPT RVFOPUFOHBOHSBEPEFPñDJBMFTZRVFOP DVFOUFODPOMBTHBSBOUÎBTPSEJOBSJBNFOUFFYJHJEBT QPS MPT CBODPT  QPESÃO EJTQPOFS EFM  EF MBT HBSBOUÎBTPGSFDJEBTBUSBWÊTEFM'POEP"HSPQFDVB SJPEFHBSBOUÎBTm'"(

2VÏ DPOEJDJPOFT UJFOFO MPT DSÏEJUPT DPO UBTBTVCTJEJBEB

{

"RVJÏOQVFEPBDVEJSFOCVTDBEFJOGPSNB DJØOZBDPNQB×BNJFOUP

X-B-JCFSUBE .FUB &OSJRVF1SJFUP X-B4FMWB "OUJPRVJB &MWJB&TUFMB3PESÎHVF[ X/BUBHBJNB 5PMJNB -PSFO[P1FMÃF[ X$BSJCJB NBHEBMFOB "EPMGP-PSB X.PUJMPOB $FTBS 'SBODJTDP(BSDÎB

-ÓOFB%FQBSUBNFOUP/BDJPOBMEF"HSPOFHPDJPT  &YUFOTJØO

{

2VJÏONÈTNFQVFEFCSJOEBSJOGPSNBDJØO BMSFTQFDUP #"/$0"(3"3*0XXXCBODPBHSBSJPHPW DP -ÎOFBHSBUVJUBOBDJPOBM '*/"(30XXXñOBHSPDPNDP -ÎOFBHSBUVJUBOBDJPOBM .*/*45&3*0%&"(3*$6-563": %&4"330--0363"- XXXNJOBHSJDVMUVSBHPWDP -ÎOFBHSBUVJUBOBDJPOBM


75,/2*,$ EI

6RFLDOHV -8$1*8,//(5029,//$'$9$5Ð1 (O  GH DJRVWR GH  OD 8QLYHU VLGDG&RRSHUDWLYDGH&RORPELDRWRUJy HOWtWXORGHDGPLQLVWUDGRUGH(PSUHVDV DO6U-XDQ*XLOOHUPR9LOODGD9DUyQ6XV SDGUHV 693Š *XVWDYR GH -HV~V 9LOOD GD/XFHUR9DUyQGH9LOODGDKHUPDQRV IDPLOLDUHV\DPLJRVOHGHVHDQPXFKRV p[LWRV HQ VX YLGD SURIHVLRQDO \ TXH HO 7RGRSRGHURVRORFROPHGHEHQGLFLRQHV HQVXQXHYDFDUUHUD

<,1(7+$/(;$1'5$52-$69É648(= (O  GH RFWXEUH GH  OD 8QLYHU VLGDG3LORWRGH&RORPELDRWRUJyHOWL WXOR GH 3VLFyORJR D OD VHxRULWD <LQHWK $OH[DQGUD 5RMDV 9iVTXH] 6XV SDGUHV HO 6U 60 Š (VPHO\V 5RMDV 0DQFLOOD ODVHxRUD'LJQD9iVTXH]0RQWHV\VXV KHUPDQDVOHH[SUHVDQVXVPiVVLQFHUDV IHOLFLWDFLRQHV OH GHVHDQ p[LWRV HQ VX YLGD SURIHVLRQDO \ OH SLGHQ D OD YLUJHQ \ DO WRGR SRGHURVR TXH OD FROPHQ GH EHQGLFLRQHV

-(,/621%5$92*21=É/(= (OGHVHSWLHPEUHGHOD8QL YHUVLGDG1DFLRQDOGH&RORPELDRWRUJy HOWLWXORGHLQJHQLHURHOHFWUyQLFRDOVH xRU -HLOVRQ %UDYR *RQ]iOH] 6XV SD GUHVHO63Š(-&%UDYR5DPtUH]*LO GDUGR\5RVDOtD*RQ]iOH]VXKHUPDQD &DUROLQD VX VREULQR 1LFROiV \ GHPiV IDPLOLDUHVOHGHVHDQORVPHMRUHVp[LWRV HQVXYLGDSURIHVLRQDO4XHHO7RGRSR GHURVROREHQGLJDWRGRVORVGtDVGHVX YLGD

-26e,*1$&,22625,2&$5021$ (OSDVDGRGHDJRVWROD8QLYHUVLGDG GHO %RVTXH RWRUJy HO WLWXOR GH (VSH FLDOLVWD HQ &LUXJtD 2UDO \ 0D[LORIDFLDO DOVHxRU-RVp,JQDFLR2VRULR&DUPRQD 6XVSDGUHVHO6HxRU-7Š0DQXHO,JQD FLR2VRULR&KDFyQVXPDGUH'RUDLGD &DUPRQDVXKHUPDQRHO,QJHQLHUR(ONLQ 0DQXHOORIHOLFLWDQSRUWDQLPSRUWDQWH ORJUR\OHUXHJDQDOWRGRSRGHURVROR EHQGLJD\ORJXLpHQVXSURIHVLyQ

0$*'$<$',5$%(7$1&2857$/2162 (OSDVDGRGHVHSWLHPEUHOD8QLYHU VLGDG ($1 RWRUJy HO WLWXOR GH (VSH FLDOLVWD HQ $GPLQLVWUDFLyQ )LQDQFLHUD D OD LQJHQLHUD 0DJGD <DGLUD %HWDQFRXUW $ORQVR6XVSDGUHV63Š5XEpQ'DUtR %HWDQFRXUW2UWL]\$XUD&HFLOLD$ORQVR 5RMDVVXHVSRVR$OH[DQGHU%UDYR0H GLQD\VXKLMD3DXOD$OHMDQGUD%UDYR%H WDQFRXUWODIHOLFLWDQ\OHGHVHDQp[LWRV HQVXQXHYDSURIHVLyQ

% 2 '$ 6'( 2 52  0$5Ì$'(/&$50(1/Ð3(= +8*27,%$%8=2*87,e55(=

(O SDVDGR  GH VHSWLHPEUH FXPSOLHURQ  DxRV GH IHOL] PDWULPRQLR HO VHxRU  WpFQLFR MHIH +XJR 7LEDEX]R *XWLpUUH] \VXHVSRVD0DUtDGHO&DUPHQ /ySH] GH 7LEDEX]R 6XV KLMRV 0DULH&RQVXHOR+XJR0DXUL FLR'LDQD&ULVWLQD\&RQVWDQ]D 3DWULFLD OHV GHVHDQ PXFKD IH OLFLGDG\UXHJDQSRUTXHHO7R GRSRGHURVR VLJD EHQGLFLHQGR HVWDXQLyQ

( 1 0( 02 5, $ 699Ì&725+8*252'5Ì*8(==$0%5$12 (-e5&,721$&,21$/$50$,1)$17(5Ì$ ´6,(035( 9,9,5É6 (1 /$ 0(025,$ '(7866(5(648(5,'266,(035( 5(&25'$5(026 78 35(6(1&,$ < 6,(035( 6$%5(026 48( (/ 72 '232'(52627(35(0,Ð&21(6( //$0$'2$/48(72'267(1'5( 026 48( $&8',5 786 3$'5(6 +(50$126(6326$(+,-26+$5( 026/2326,%/(32548(181&$ '(-(026 '(69$1(&(5 /$ //$0$ '(7835(6(1&,$(118(675$69, '$6µ 7($0$026.,1.,1 78/(0$ ´',26*/25,$<(-e5&,72µ '(0$<2'(-8/,2


EJ 75,/2*,$

,QIRUPDFLyQ

(/&Ì5&8/2'(68%2),&,$/(6'(/$6))00,19,7$$9,6,7$518(675$ 3É*,1$:(%:::&,5&8/20,/&2

+20(1$-( 3267802

%

L #ÓRCULO DE 3UBOlCIALES DE LAS &UERZAS -I LITARES RINDEUNHOMENAJEPOSTUMOAL3AR GENTOMAYOR2ETIRADO(IPØLITO/ROZCO!GUIRRE QUIEN EL PASADO  DE JULIO DE  FALLECIØ COMOCONSECUENCIADEUNAAFECCIØNPULMONAR %L3ARGENTO-AYOR/ROZCOFUEUNODELOSPRIME ROSDIRECTORESDEL#ÓRCULODE3UBOlCIALES EJERCIØ EL CARGO EN EL PERIODO DE  A  SIENDO UNODELOSPROMOTORESPARAELINICIODELACONS TRUCCIØN DE LAS TRES PRIMERAS PLANTAS DEL HOTEL DEL#ÓRCULODE3UBOlCIALES,A%NTIDADEXALTALAS CALIDADES HUMANAS Y AGRADECE LA ENTREGA POR PARTE DEL 3ARGENTO -AYOR A LAS LABORES ENCO MENDADAS !SUESPOSA HIJOSYDEMÉSFAMILIARESLESDAMOS NUESTRASMÉSSINCERASCONDOLENCIAS

32548(867('0(5(&(-867,&,$ $VLVWHQFLD\UHSUHVHQWDFLyQMXUtGLFDLQWHJUDODO3HUVRQDO$FWLYRGH ODV)XHU]DV$UPDGDVHQODVÈUHDVGHO'HUHFKR3HQDO3HQDO0LOLWDU $GPLQLVWUDWLYR'LVFLSOLQDULR\)DPLOLD  'HVFXHQWRSRUQyPLQDDWUDYpVGHOVLVWHPD3UHSDJR  5HSUHVHQWDFLyQ HQ KHFKRV RFXUULGRV GHQWUR \ IXHUD GHO VHUYLFLR  &REHUWXUDHQWRGRHOWHUULWRULRQDFLRQDOVLQFRVWRVDGLFLRQDOHV  6HJXLPLHQWR SHUPDQHQWH GH ODV LQYHVWLJDFLRQHV KDVWD VX WHUPLQDFLyQ (VWDUi UHSUHVHQWDGR SRU DERJDGRV HVSHFLDOL]DGRV HQ ODV GLVWLQWDV iUHDVGHOGHUHFKR 1DGLH HVWi H[HQWR GH YHUVH LQYROXFUDGRHQXQSUREOHPDMXUtGLFR TXHWHUPLQDUiDIHFWDQGRVXOLEHUWDG VXSDWULPRQLR\VXHVWDELOLGDGODERUDO

&DOOH1R2¿FLQD‡7HOpIRQRV (PDLOMXULQWHJ#KRWPDLOFRP‡%RJRWi'&

&216(-2683(5,25'(6$/8' '(/$6)8(5=$60,/,7$5(6< /$32/,&Ì$1$&,21$/&6603 0DUJDULWD 6XiUH] \ +HUQDQGR %DVWR *yPH] HQ FDOLGDG GHUHSUHVHQWDQWHVDFWLYRVDQWHHO&RQVHMR6XSHULRUGH6DOXGGH ODV)XHU]DV0LOLWDUHV\OD3ROLFtD1DFLRQDO&6603VROLFLWDPRVD ORVVHxRUHVRILFLDOHVVXERILFLDOHVVROGDGRV\FLYLOHVSHQVLRQD GRVGHO0LQLVWHULRGH'HIHQVD1DFLRQDOGLULJLUVXVLQTXLHWXGHV \UHFRPHQGDFLRQHVUHODFLRQDGDVFRQODSUHVWDFLyQGHORVVHU YLFLRVGHVDOXGSRUSDUWHGHO6XEVLVWHPDGH6DOXGGHODV)XHU ]DV0LOLWDUHVDOD&UD1R5HVLGHQFLDV7HTXHQGDPD WRUUHVXURILFLQDWHOpIRQRV²FRQHOILQ GHDQDOL]DUODV\SUHVHQWDUODVDODDXWRULGDGFRPSHWHQWHSDUDHO PHMRUDPLHQWRGHORVVHUYLFLRV\ELHQHVWDUGHODFRPXQLGDG


Trilogía 18