Escolar Documentos
Profissional Documentos
Cultura Documentos
&DQWR3DVWRUDO
6XVWHQWDLFRP$UWHD/RXYDomR
/RFDO
'DWD
+R\RKR\R
$FROKLGD
'
*
'
$
L
L
L
L
L
L
L
N
N AL
N
N L
N L
L
L
]
L N AL
L L
+R \R
KR
\R
ER DV
YLQ GDV
ER DV
,U0LULD7.ROOLQJ
YLQ GDV
KR \R
*
'
' '
L
N
L
N
L N L
L ] L
N ] A L
N L
KR \R
+R \R KR \R
6D
OD PD
ER DV
YLQ GDV
'
$
L $ ' '
L
L
L
L
L
L
L
N ]
N
N
N
N L
N L
A
KR \R KR \R
VD
OD PD
6D
6D
OD PD
2EV+R\RKR\R ERDVYLQGDVHPFKDQJDQD
VDODPD ERDVYLQGDVHPPDFXDOtQJXDV
FRPXQVHP0RoDPELTXH
%RDVYLQGDVKR\RKR\RVDODPDDPLJDVHDPLJRVDRQRVVR(QFRQWURGH)RUPDomR
/LW~UJLFD H &DQWR 3DVWRUDO 6DXGDomR PXVLFDO TXH PH QDVFHX HP 0RoDPELTXH HP
TXDQGROiIL]XPDH[SHULrQFLDtPSDUFRQYLYHQGRSRUWUrVPHVHVFRPRERPHPXVLFDOSRYR
DIULFDQR H TXH QHVWH DQR GH SDUWLOKR FRP YRFrV 'HVVD H[SHULrQFLD QDVFHUDP FDQWR H
P~VLFD TXH IDUmR SDUWH GR &' &DQWDUHL DR PHX 6HQKRU FRP 0LVVD FRPSOHWD H RXWURV
FDQWRVJUDYDGRVSHOD3DXOXV$OLiVWRGRVRVGHVHQKRVTXHLOXVWUDPQRVVDDSRVWLODDFRPHoDU
SHODFDSDVmRWLUDGRVGD%tEOLDDIULFDQD7HPRVWDPEpPDDOHJULDGHDSUHVHQWDU0LVVDHDOJXQV
FDQWRVGR&'0DLVFRUDomRQDVPmRVIUXWRGHXPWUDEDOKRPXVLFDODSHGLGRGD)DPtOLD
&DPLOLDQDFHOHEUDQGRVHXVDQRVGH%UDVLOXPDFRLQFLGrQFLDSURYLGHQFLDOFRPD&)VREUHD
6D~GHFXMRWHPD)UDWHUQLGDGHH6D~GH3~EOLFDHOHPD4XHDVD~GHVHGLIXQGDVREUH
D WHUUD (FOR DMXGDP D YLYHU R JHVWR FRQFUHWR GD 4XDUHVPD 2 2ItFLR 'LYLQR GDV
&RPXQLGDGHVUHIUmRVRUDQWHVHRXWURVFDQWRVFRPSOHWDPRUHSHUWyULRVHPSUHULFRHYDULDGR
YDORUL]DQGRDP~VLFDFRPRSDUWHLQWHJUDQWHGDOLWXUJLD
23DSD%HQWR;9,SURFODPRXHVWHR$QRGD)pHQWUHRXWXEURGHTXDQGRVH
LQLFLDUiRILFLDOPHQWHRDQLYHUViULRGDDEHUWXUDGR&RQFtOLR9DWLFDQR,,HQRYHPEUR
GH FRP R REMHWLYR GH GDU XP QRYR LPSXOVR j PLVVmR GH WRGD D ,JUHMD $ILQDO HVWH
1RYR 3HQWHFRVWHV PDUFRX SURIXQGDPHQWH D ,JUHMD FXMD UHQRYDomR FRPHoRX SHOD OLWXUJLD
FRPD6DFURVDQFWXP&RQFLOLXP6&'RLVDUWLJRVPHXVD2FDQWRDSyVR&RQFtOLR9DWLFDQR,,
E 0LQLVWURV GR FDQWR H GD P~VLFD DPERV ID]HP SDUWH GR OLYUR 6XVWHQWDL FRP DUWH D
ORXYDomRSXEOLFDGRSHOD(GLWRUD$YH0DULDHPLQKDH[SHULrQFLDSDVFDOHP0RoDPELTXH
4XH R QRVVR (QFRQWUR QRV DOHJUH IRUWDOHoD H DMXGH D VXVWHQWDU FRP DUWH D ORXYDomR GR
SRYRVREUHWXGRTXDQGRFHOHEUDPRVD6DJUDGD/LWXUJLDFXPHSDUDRTXDOWHQGHDDomR
GD,JUHMDHDRPHVPRWHPSRIRQWHGRQGHHPDQDWRGDDVXDIRUoD6&
,U0LULD7.ROOLQJ
ZZZLUPDPLULDFRPEU
HPDLOLUPLULD#JPDLOFRP
&DQWDUHLDRPHX6HQKRU0LVVD
VWXDVSRUWDV6HQKRU(QWUDGD6DOPR
%DGLP
N N
L
N
N N A N N N L
N
V WX DV SRU
GH
WDV 6H QKRU
QRV VRV SpV
Mi
VH
WrP
$P
'
*
L
N A N A
N L
N A A A N A A N A N A N L
N
A
3D UD HQ WUDU
FRP IHU
YRU
QD IH OL]
-H UX VD OpP
7XD
*
$
&
'
N L
N L
N
L
N
N N N L
N N
0DUFKDUDQFKR
*
'
,U0LULD7.ROOLQJ
'$ '
*
*'
(PL
N N
N N N N
N N
N L
FD VDBp
QRV VD
FD
(D
VD
%
QyV
VR PRV
WHX SR
YR
FDQ
'
1.*
2.*
'
* & *
N , A, N A ] A N A
N ] A N A A N A A N A A N A N A, A L
,
A
N N N N N N N N
N
WUD PRV
SUD
HQ
MXQ WRV ORX YDU WH 6H QKRU PRU
N
N 5HIUmR )H$ N OHOL JUHV
pBH N WHU QRBH IL N HO WHX D N
]HV N
FDQ N WD PRVN
N
N
N L
N N N N N L
, L
, L
, L
,
N N N N , N N N ] N
N ! ]
WDQ GRBXP
FDQ WR
QR
YR
WHX
QR PH
VDQ WR
YL PRV
SUR FOD
PDU
$
)H
OH JUHV
OL ]HV
3RYRGH'HXVpVIHOL]
VWXDVSRUWDV6HQKRU
3RUTXH(OHWHHVFROKHX
1RVVRVSpVMiVHGHWrP
3DUDFRQWLJRKDELWDU
3DUDHQWUDUFRPIHUYRU
(ID]HUWHSRYRVHX
1DIHOL]-HUXVDOpP
1DWHUUDSHUHJULQR
7XDFDVDpQRVVDFDVD
'HVWLQRpR0RQWH6DQWR
1yVVRPRVRWHXSRYR
$FODPDFRPWHXFDQWR
&DQWDQGRXPFDQWRQRYR
2'HXVEHQGLWRTXHKRMHYHPDWL
7HXQRPHVDQWRYLPRVSURFODPDU
5HIUmR
$OHJUHVHQWUDPRV
3UDMXQWRVORXYDUWH6HQKRU
)HOL]HVFDQWDPRV
eHWHUQRHILHOWHXDPRU
PRU
1DUUDPWXDJOyULD6HQKRU
7RGDDWHUUDRPDUHRVFpXV
0DVTXHPVXVWHQWDRORXYRU
eDYR]GRVILOKRVWHXV
&RUUHUDRWHXHQFRQWUR
(LVQRVVDDOHJULD
eVIRQWHTXHVDFLD
$QRVVDIRPHHVHGHGHDPRU
2FDQWRSURFHVVLRQDOGHHQWUDGDDFRPSDQKDRULWRRPRYLPHQWRDSURFLVVmRFRQIRUPH6DQWR$JRVWLQKR
&DQWDHFDPLQKD6XDILQDOLGDGHpFRQVWLWXLUHFRQJUHJDUDDVVHPEOHLDLQWURGX]LQGRDQRPLVWpULRDVHU
FHOHEUDGRVRQRUL]DQGRRFDUiWHUIHVWLYRGDFHOHEUDomR6REUHWXGRRWH[WRXQLGRjPHORGLDIRPHQWHDXQLmR
GRVILpLVVHMDDGHTXDGRjDomRVDJUDGDHjtQGROHGRGLDRXGRWHPSROLW~UJLFRGDQGRRWRPGDFHOHEUDomR
6HQKRUSLHGDGH
'P
*
& $P
N A N A A A N
N
A A N A A A N
A N A
N
N
N
N
N GH GH NQyV
N
6H QKRU
SL H GD GH SLH GD
6H QKRU
6H
N
N
N
N
N
N
D N
N
N
N E N
N
N
N
N
N!
N
N
N N N
(P
&
$P
)
& $P
(P
$P
'P *
, A AA N AA N N
N N A N
N A A A N A AL
N
N N
N
NN
N
N
N
N
N QKRU SLH N GD GH GH QyV
N
N N&ULV WR SLH N GD GH SLH N GD GH GH NQyV N
N N A N A A N
N N
N
N N
N N
N
N!
N N
N
N
N
'P
*
(P
$P
'
*
*
& *
&
&
N A A A N A
A N A A A N A
N A A A N A A A N
A
A
N
N
N
N
N N
N
&ULV WR SLH GD
6H
QKRU SL H
GD GH SLH
D N
N N N N N L
N
NN
N
N
N
N
N ! N
)&
*
(P $P
'P
*
)
)
&
& $P 'P
, A A N AY A N A
N N A N A A A N A A A N A AL
A
A
N N N N N
N
N
SLH GD
N GD GH GH QyV
N 6H QKRU
N 6H QKRU
N
N GH GH QyV
N GH QyV
N
N N N N
N N
N
N ! N N N N
N N
$GiJLRVXSOLFDQWH
,U0LULD7.ROOLQJ
&
*
&
&
)&
6HQKRUSLHGDGHSLHGDGHGHQyV
6HQKRU6HQKRUSLHGDGHGHQyV
&ULVWRSLHGDGHSLHGDGHGHQyV
&ULVWRSLHGDGHSLHGDGHGHQyV
6HQKRUSLHGDGHSLHGDGHGHQyV
6HQKRU6HQKRUSLHGDGHGHQyVGHQyV
6HQKRUWHQGHSLHGDGHRX.\ULHHOHLVRQpXPDDFODPDomRVXSOLFDQWHHQGHUHoDGDD&ULVWRR6HQKRU
ORXYDQGRRHjVXDPLVHULFyUGLD3HUWHQFHDRVFDQWRVULWXDLVFRQVWLWXLQGRRSUySULRULWRGDFHOHEUDomR
1mRpR$WR3HQLWHQFLDOPDVVLPXPDGR[RORJLDRXSURFODPDomRGDERQGDGHHPLVHULFyUGLDGH'HXV
FDQWDGRDSyVR$WR3HQLWHQFLDOHDDEVROYLomRDQmRVHUTXHMiWHQKDSDUWLFLSDGRGRPHVPRDWUDYpVGDV
YiULDVIyUPXODVDSUHVHQWDGDVQR0LVVDO5RPDQRFRPRYDULDQWHGHVWH6HJXQGRR&RQFtOLR9DWLFDQR,,
pXPFDQWRPHGLDQWHRTXDORVILpLVDFODPDPR6HQKRUHLPSORUDPVXDPLVHULFyUGLD
*OyULD+LQRGHORXYRU
7H[WR&1%%
0~VLFD,U0LULD7.ROOLQJ
*
&
)
%GLP
%D
)&
'P
N A A D N D N N N A A N N N N
N N N N
N
N N
N
N
SD]
QD WHU
UDBD VHXV
D PD
GRV
N
N
N
N
N
N H *Oy ULDBD 'HXV
A
A
N
N N N N N N P N N
N ! D N N P N N N N N N
)
)
)
%D
)&
&
%DP
P
D N L
, N A A N A
NN
N D N D N D N D N A , AL
N N NN
N
N
N
N
N
N
$
5HL
FH OHV
WH RV TXH IR UDP
OL EHU WD
GRV
A YyVA ORX N YDP
N N N
N
N
N
N
N
N
N D N N N N N , , N N N N P
NN
N
N
N N N N
N
N!
*
&
$P
$P
*
&
(
(
N N N N N A N A A N A N A AN
N N N N N N
N
N N
H 3DL
QyV
YRV
ORX YD
PRV
D GR UD
PRV
EHQ GL ]H
PRV
N H 'HXV
A N A A N A N A A N N N N N
N
N N N N N N N N
N!
N N N N
N N
N N
'
*
'
(P
'
*
$P
*
N A A A N A A N A A A N A A N A N N N N
N N N N
N
N N N N
YRV VR
QR
YRV VRV GRQV
D JUD
GH FH PRV
PH
N
N
N
N
N
N
N
N
N
N
N ! N N N N
N
N N
*
&
&
&
)
)LQDO )
N N
N N
N ,
P N A A N A N N A N A N
N
N
N N
N
N
N
N
N
N
N
'&
D
JUD GH FH PRV
GRU
$ PpP
D PpP
$
N N
N N N N N
N AL
N
N AL
N
A
A A A
N N N
N N N N D N N , N
N
N
N
N N
N
NN
N
N ! , N N
D
$ PpP D PpP
$ PpP D PpP $
*P
&
*P%
)
D
N ,L
N A
N A 2*OyULDpXPKLQRDQWLTXtVVLPRHYHQHUiYHOSHORTXDOD
N
,JUHMDFRQJUHJDGDSHOR(VStULWR6DQWRJORULILFDHVXSOLFDD
N
N
N D N PpP 'HXV3DLHDR&RUGHLURSRUWDQWRGHFDUiWHUGR[ROyJLFR
PpP
D PpP
N N N ORXYRUJORULILFDomR,*051mRGHYHVHUVXEVWLWXtGR
N
L
SRURXWURFDQWRGHORXYRUSRLVID]SDUWHGRVFDQWRV
NN ! D , NN
N
N ULWXDLVpRSUySULRULWR
PpP D PpP N D N PpP
1HJUR6SLULWXDO
*OyULDD'HXVQRVDOWRVFpXV
3D]QDWHUUDDVHXVDPDGRV
$YyVORXYDP5HLFHOHVWH
2VTXHIRUDPOLEHUWDGRV
'HXVH3DLQyVYRVORXYDPRV
$GRUDPRVEHQGL]HPRV
'DPRVJOyULDDRYRVVRQRPH
9RVVRVGRQVDJUDGHFHPRVDJUDGHFHPRV
6HQKRUQRVVR-HVXV&ULVWR
8QLJrQLWRGR3DL
9yVGH'HXV&RUGHLUR6DQWR
1RVVDVFXOSDVSHUGRDL
9yVTXHHVWDLVMXQWRGR3DL
&RPRQRVVR,QWHUFHVVRU
$FROKHLQRVVRVSHGLGRV
$WHQGHLQRVVRFODPRUQRVVRFODPRU
9yVVRPHQWHVRLVR6DQWR
2$OWtVVLPRR6HQKRU
&RPR(VStULWR'LYLQR
'H'HXV3DLQRHVSOHQGRU
$PpPDPpP
$PpPDPpPDPpP
3DODYUDGH'HXVpOX]$FROKLGDGD3DODYUD
'
*'
$
'
N A A N A
N
N
L
N
N L
L
A
$
WX D
3D
OD YUD
6H QKRU SD UD PLP p
OX]
p
'
'
$
N
N
N A
N
NN
OX] SD UDBR
PHX FD
PL QKR
H D OH
JUL D
DR FR UD
omR
$
'
'
$
'
L
]
] L
L
N
N N L
N
, AA
,
, A A A A A AA
A A,
N
N
N
N
e
p
3D OD YUD GH
p
e OX]
N OX]
N 'HXV
N OX]
OX]
N L
L
N
N L
, L
, N
,
] , N
N
]
N
N!
0RGLQKDEDLmR
,U0LULD7.ROOLQJ
$WXD3DODYUD6HQKRUSDUDPLPpOX]
eOX]SDUDRPHXFDPLQKRHDOHJULDDRFRUDomR
eOX]pOX]3DODYUDGH'HXVpOX]ELV
6HQKRUHXFDQWDUHL6DOPRUHVSRQVRULDO6O
L
L
D E
, N D P N N N
, AL
N
A A N
A A A
, A A N , L
N
N
N
N
N
NN
QKRU
UHL
6H
HX FDQ WD
H WHU QD PHQ WHBR YRV VRBD PRU
5HIUmR
N N N N
N
N P L
N A AL
N
D N N N
N , ,L
, ,L
N D E N
N N N
N!
N
N
N
&
)
'
*P
%D P
$P
*
&
9
N D 9 A A N 9 D N
N 9
&DQomROHQWD
,U0LULD7.ROOLQJ
&
*GLP
5HFLWDWLYR
5HIUmR6HQKRUHXFDQWDUHLHWHUQDPHQWHRYRVVRDPRU
6HQKRUGHFRUDomRHXYRVGRXJUDoDV
$OWtVVLPRpR6HQKRUPDVROKDRVSREUHV
3RUTXHRXYLVWHVDVSDODYUDVGRVPHXVOiELRV
(GHORQJHUHFRQKHFHRVRUJXOKRVRV
3HUDQWHRVYRVVRVDQMRVYRXFDQWDUYRV
6HQRPHLRGDGHVJUDoDHXFDPLQKDU
(DQWHRYRVVRWHPSORYRXSURVWUDUPH
9yVPHID]HLVWRUQDUjYLGDQRYDPHQWH
&RPSOHWDLHPPLPDREUDFRPHoDGD
6HQKRUYRVVDERQGDGHpSDUDVHPSUH
(XYRVSHoRQmRGHL[HLVLQDFDEDGD
(VWDREUDTXHIL]HUDPYRVVDVPmRV
$OHOXLD$FODPDomRDR(YDQJHOKR
*
*
*
*
, N
L
P
N
A A A A N A , N A A A N
N
N
N
N
N
D OH
$ OH
$ OH OX LD
N OX LD D N OH D OH OX N LD
N
L
, N
, N
L
N N
N
N!
N
N
N
N
'
*
*
*
& *
L
L
P , ]
N ] , , N
N
N
N
,
N
N
NN
N
D OH OX
$ OH
LD
N LD
N
OX LD D OH N OX LD
N N
A
A
L
L
L
,
,
N , , N L
N
N
N
N ! ] N
N N
N
]
*
'
(P
%P
&
*
$
'
9
N
N 9 9
A
,U0LULD7.ROOLQJ
0DUFKLQKD
'
'
9
9RVVD3DODYUDpDYHUGDGH6DQWLILFDLQRVQDYHUGDGH
5HIUmR
$OHOXLDDOHOXLDDOHDOHOXLD
$OHOXLDDOHOXLDDOHOXLD%LV
99RVVD3DODYUDpDYHUGDGHVDQWLILFDLQRVQDYHUGDGH
95HFHEHVWHVR(VStULWRGHDGRomRpSRUHOHTXHFODPDPRV$Ei3DL
'RPLQJRGR7&$QR%
%HQGLWRVHMDLV6HQKRU2IHUHQGDV
(
$ (
% (
]
] N N N
N
AL
A
6H
QKRU QyV YRV EHQ GL ]H
PRV
SH OR SmR TXHBD OL PHQ WDBD YL GD
6H
( $ ( % ( ( ,
N
L
N
L
N A N A N N
YL GD
7UD ED OKR GDV PmRV KX PD QDV
PDV UH FH EL
GR GR YRV VRBD PRU
7UD
$
(
%
(
N N N N
N
A
A
A
ED OKR GDV
PmRV KX PD
QDV PDV UH FH EL
GR GR YRV VRBD PRU
%
(
%
(
(
L
A, ] N N N A AL
N
, A
%HQ QKRU
N 5HIUmR %HQ GL WR EHQ N GL WR EHQ N GL WR VH MDLV 6H NQKRU
N N N
,
,
N N L
N L
N
]
] N
N!
N N
,U0LULD7.ROOLQJ
0D[L[H
6HQKRUQyV9RVEHQGL]HPRV
3HORSmRTXHDOLPHQWDDYLGDELV
7UDEDOKRGDVPmRVKXPDQDV
0DVUHFHELGRGRYRVVRDPRUELV
6HQKRUQyV9RVEHQGL]HPRV
3HORYLQKRGDDOHJULDELV
eGRPIUXWRGDYLGHLUD
0DVUHFHELGRGRYRVVRDPRUELV
6HQKRU9RVDSUHVHQWDPRV
(VWHVIUXWRVGHQRVVDVPmRVELV
4XHYmRGHSRLVWUDQVIRUPDUVH
(PSmRHYLQKRGDVDOYDomRELV
5HIUmR%HQGLWREHQGLWREHQGLWRVHMDLV6HQKRUELV
6DQWR
)
)
&
)
%D
L
, N N N N , N
N N N A N A A N A AL
N
N
N
N
N
N
N
NN
N
6DQ WR 6DQ WR 6DQ
VR
WR
6H QKRU 'HXV GR X QL YHU
2
N N N N N
N
N N N N
, N N A N A A N A AL
N
,
N N N N L
D
N
N N N
N
N N
N!
N
)&
)
)
&
%D %GLP
L
L
L
, N N ,
N D N D, L
, N N A N A A N
N
N
N N
N
N
N
N
FpX
H
D WHU UD SUR FOD PDP D YRV VD JOy ULD
+R VD QD
QDV
DO WX
UDV
N
N
N
N
N
N
A A N L
DL
L
N
P
, N
N N
N D N , L
N
N
N ! N N N P, , N N N N
%D
&
&
)
)&
L
L
, N ,
N N
, ] ,
N D A
N
N
N
A,
N
N
N
N
N
KR VD QD
KR VD QD QDV DO WX
5HIUmR +R VD QD
N
N N N N N N
, A A N AL
, A L
N L
A N A N
L
N AL
N ! D
] , N , N N N N
N
+R VD QDBKR VD QD
+R VD QDBKR VD QD KR VD QD
QDV DO WX
)
)
$R
6DQWR6DQWR6DQWR
L
D
%HQGLWR2TXHYHP
6HQKRU'HXVGRXQLYHUVR
N A N A , ] A N A AL
,
(PQRPHGR6HQKRU
N
N
N
%HQGLWR2TXHYHP
2FpXHDWHUUD
UDV
+R UDV
%HQ
(PQRPHGR6HQKRU
N N 3URFODPDPDYRVVDJOyULD
N
+RVDQDQDVDOWXUDV
+RVDQDQDVDOWXUDV
L
,
N
N
5HIUmR
N! D N
] N
7H[WR0LVVDO5RPDQR
0~VLFD,U0LULD7.ROOLQJ
6ROHQH
UDV
+RVDQDKRVDQDKRVDQDQDVDOWXUDVELV
UDV
2WH[WRGH,VDtDVGL]TXHRFDQWRGR6DQWRQDYR]GRVDUFDQMRVHVHUDILQVID]LDHVWUHPHFHUDWpRVJRQ]RVGR
WHPSOReXPKLQRDFODPDomRRQGHWRGRRXQLYHUVRFyVPLFRHDQJpOLFRRVVDQWRVGRFpXHD,JUHMDGDWHUUD
XQHPVXDVYR]HVQXPJUDQGHFRQFHUWRSDUDDFODPDUDVDQWLGDGHGH'HXV2WH[WRWRWDOPHQWHEtEOLFRGR
$QWLJR7HVWDPHQWRDR$SRFDOLSVHFRQVWLWXLXPFDQWRULWXDOHPTXHVHFDQWD$/LWXUJLDSRULVVRH[LJHXPD
P~VLFDIRUWHYLEUDQWHSOHQD1mRGHYHVHUDOWHUDGRRXVXEVWLWXtGRSRURXWUDVYHUV}HVRXSDUiIUDVHV
(LVRPLVWpULRGDIp$FODPDomRPHPRULDO
D
A N A N A
N
N A N N
N N AL
N N
Ip $VV
$ QXQ FL D
PRV 6H QKRU D YRV VD
PRU WH
R PLV Wp ULR GD
3UHV (LV
D
%
*P
$
' *P
D L
L
L
, N
N L
N
N
N
N
N
L
D
L N L
N 3UHV(LVRPLVWpULRGDIp
N , N A A N A A A N AL
A, A A, AA
A
A A A , A A
,U0LULD7.ROOLQJ
&
&
QKRU
-H
VXV
$VV$QXQFLDPRV6HQKRUDYRVVDPRUWH
(SURFODPDPRVDYRVVDUHVVXUUHLomR
9LQGHYLQGH6HQKRU-HVXVELV
6H QKRU
-H VXV
$VV7RGDVDVYH]HVTXHFRPHPRVGHVWHSmR
(EHEHPRVGHVWHFiOLFHDQXQFLDPRV6HQKRUDYRVVDPRUWH
(QTXDQWRHVSHUDPRVDYRVVDYLQGD
&
)
D L
N
N
N
N
N
$FODPDo}HVj2UDomR(XFDUtVWLFD,,
%D
,U0LULD7.ROOLQJ
N
N AA
A N A
,
N A
A A
A
A
A
A
'P
6DQ WL
6DQ WL
IL
FDL
*P
IL
FDL
QRV VDBR
QRV VDBR
6DQWLILFDLQRVVDRIHUHQGDy6HQKRUELV
5HFHEHLy6HQKRUDQRVVDRIHUWDELV
)D]HLGHQyVXPVyFRUSRHXPVyHVStULWRELV
IH
IH
&
UHQ
UHQ GD
GD
6H
6H
QKRU
)
QKRU
/HPEUDLYRVy3DLGDYRVVD,JUHMD
/HPEUDLYRVy3DLGRVYRVVRVILOKRV
&RQFHGHLQRVRFRQYtYLRGRVHOHLWRV
'R[RORJLD2JUDQGH$PpP
X 9
N 3UHV 3RU&ULVWRFRP&ULVWRHP&ULVWRDYyV'HXV3DLWRGRSRGHURVRQDXQLGDGHGR(VStULWR6DQWR
N
$P
&
*
'
&
L
L
L
N WRGDKRQUDHWRGDJOyULD DJRUDBHSDUDVHPSUH
N N
*
*
&
'
*
$P
(D
L
N L
N N N N
L
N L
N AL
N
N
N
N
N
L
D PpP D PpP
$VV $ PpP
$ PpP
D PpP D
PpP
D
$D
$
%DP
'D
(D
$D
DD D
L
L
N
, N ,L
N
N
N
N
A,L
N A , N , N
N
N PpP D N PpP D N PpP N
N
N
N PpP N
$
$ PpP
D PpP
D
N
N AA AL
N A N A AL
N A AL
N AA AL
N A
N A
N AL
N , N , N N N , N , N
N D D D ,L
N
N N
N! D
N
N
N
N
N
N
*
%P
,U0LULD7.ROOLQJ
$P
(P
$P
3UHV3RU&ULVWRFRP&ULVWRHP&ULVWR$VV$PpPDPpPDPpPELV
3DL1RVVR
*
&
'P
L
N
N
N
AA A N A N
3DL
1RV VR TXHBHV WDLV QRV FpXV
VDQ WL IL FD GR VH MDBR YRV VR
QR PH YH QKDBD
&
'P
(
'P
$P
N N N N
L
A
A A A A
QyV
R YRV VR
UHL QR
VH MD
IHL WDBD YRV VD YRQ
WD GH DV VLP QD
*
(
$P
&
(
A A
N
N
N
A N A A N
WHU
UD
FR PR QR
FpX
2 SmR QRV VR GH FD GD
GL D
QRV GDL
KR MH
SHU GR
)
$P
%
(
$P
%
N
A A A A A N A A A A N N A N
A
TXHP QRV WHP R IHQ
DL QRV DV QRV VDV R IHQ VDV
DV VLP
FR PR QyV SHU GR D PRV D
'P
$P
(
$
(
N N N
W N A N AL
A A
A AA
$P
'P
0~VLFD,U0LULD7.ROOLQJ
2SmRQRVVRGHFDGDGLDQRVGDLKRMH
3HUGRDLQRVDVQRVVDVRIHQVDV
$VVLPFRPRQyVSHUGRDPRV
$TXHPQRVWHPRIHQGLGR
(QmRQRVGHL[HLVFDLUHPWHQWDomR
PDVOLYUDLQRVGRPDO
3DLQRVVRTXHHVWDLVQRVFpXV
6DQWLILFDGRVHMDRYRVVRQRPH
9HQKDDQyVRYRVVRUHLQR
6HMDIHLWDDYRVVDYRQWDGH
$VVLPQDWHUUDFRPRQRFpX
3D]GH&ULVWR
D
N
N
N
N
+RUDGDQoDMXGDLFD
,U0LULD7.ROOLQJ
$
'P
'P
D
N
N N
NN
3D]
GH
&ULV WR PL
QKDBLU Pm
PHX
LU PmR
VKD O{P
$
*P
'P
'P
*P
&
D
N
N N N
N
3D]
GH
&ULV WR
PL
QKDBLU Pm
PHX LU
$
PmR
SD]
%D
*P
$
D
N N
3D]
)
TXH
WR
Vy
Gi
R &ULV
WR Gi
)LP
VKD O{P
'P
3D] TXH
Vy
&ULV
3D]GH&ULVWRPLQKDLUPmPHXLUPmRSD]VKDO{P
3D]GH&ULVWRPLQKDLUPmPHXLUPmRVKDO{P
3D]TXHVyR&ULVWRGi&ULVWRSD]VKDO{P
3D]TXHVyR&ULVWRGi&ULVWRSD]VKDO{PELV
3D]GH&ULVWRPLQKDLUPmPHXLUPmRSD]VKDO{P
1mRID]SDUWHGDWUDGLomROLW~UJLFDHQWRDUVHXPFDQWRGXUDQWHDVDXGDomRGDSD]6HIRUFDQWDGRTXHVHMD
FXUWRHOHYHQmRGHYHQGRLQYDGLURFDQWRTXHDFRPSDQKDRULWRGDIUDomRGRSmRR&RUGHLURGH'HXVe
ERPUHVHUYiORSDUDRVGLDVPDLVVROHQHVHIHVWDVHVSHFLDLV3RGHVHUFDQWDGRQDVFHOHEUDo}HVGD3DODYUD
PRPHQWRVGHORXYRUUHXQL}HVHHQFRQWURVRXPHVPRQRILQDOGDFHOHEUDomR
&RUGHLURGH'HXV
& $P
E
N
N A N A A A N A A A A N N
A
N
N N
N
N
N
y
&RU GHL UR GH
'HXV
TXH
WL UDLV
R SH
FD GR GR
PXQ GR
N
N
N
N
N
N
N
N E N
N D N N
N N
N
N ! N N
'P
(P
$P
'P
* *VXV
&
*
$P
N A A A N A A A N A AL
, A AA N AA
N
N
N N
N
N
N
&RU
N GHL UR GH N
N WHQ GH SLH N GD GH SLH N GD GH GH N QyV
N N
N N
N
N
N
N
N
N !
N
(P
*
$P
&
)
'P
(P
&
N
N A A A N
A N A A A N A A A N
N N N
N
N
N
TXH WL UDLV
R SH FD GR GR PXQ GR
y
WHQ GH SLH GD GH SLH
N 'HXV
N
N
N
A A A A N N
N
N N
N N
N
N
N
N!
N
N N
'
)
* * & * & &
N
N N
N N
N A
A
A
A
A
A
A A
A
A
N
N
N
N
N
GD GH
GH
QyV
&RU GHL UR
GH
TXH WL UDLV
N
N
N
N'HXV
N R SH FD GR GR N
N
D N A A A A A N
N
N N L
N N
N!
N N
N
$P
*
$P
&
&
'P
(P
'P
*
)&
7
, A A N A A
A N A A A N A
N A AL
N
A
A
N
N N
N
y
D
PXQ GR
GDL QRV
SD]
6H QKRU
D YRV VD
SD]
N
N N N N
A A N N N L
N
N
N
N N
N !
N
$GiJLRVXSOLFDQWH
,U0LULD7.ROOLQJ
*
&
&
&
&RUGHLURGH'HXVTXHWLUDLVRSHFDGRGRPXQGR
WHQGHSLHGDGHSLHGDGHGHQyVELV
&RUGHLURGH'HXVTXHWLUDLVRSHFDGRGRPXQGR
GDLQRVDSD]6HQKRUDYRVVDSD]
7HPRVIRPHGH(XFDULVWLD&RPXQKmR
*XDUkQLD
*
N A A N N A A A A N A A A A A N A A A N
N N A N N N
N
FD ULV WL D
WH PRV
IR PH GH 7L 6H QKRU
eV R
N 5HIUmR 7H PRV N IR PH GHB(X
N
N
N
N
N N N N N N
N ! N N N N N
*
' *
&
N N
N
A
NN
N
NN
N
N
N
N
FL D
3mR
TXH
QRV
VD
pV
D
IRQ WH
GR QRV VRBD PRU
NN
N
A A N A N A A A N
N
NN
N
N
N
NN
N
N
N!
N
' * % (P
N N
N
N
N
N
/HWUDHP~VLFD,U0LULD7.ROOLQJ
'
N
N N N
7H PRV
IR PH
&
GD
WXD
3D
WHU QR
IHL WR
&DU QH
5HIUmR
7HPRVIRPHGH(XFDULVWLD
7HPRVIRPHGH7L6HQKRU
eVR3mRTXHQRVVDFLD
eVDIRQWHGRQRVVRDPRU
QRV VD
Ip
OX]
9HU ERB(
7HPRVIRPHGD3OHQD9LGD
4XHQRVGiVQDIUDomRGR3mR
7XDHQWUHJDVHPPHGLGD
-ipHPQyVUHVVXUUHLomR
7HPRVIRPHGDWXD3DODYUD
4XHpPLVWpULRGHIpHOX]
9HUER(WHUQRIHLWR&DUQH
1RVVD9LGDpV7X-HVXV
GH
7HPRVIRPHGRGRPSURIXQGR
6DQWD&HLD'LYLQR$PRU
0HVDIDUWDDOWDUGRPXQGR
7HUUDHFpXQXPVyORXYRU
OX]GRVPHXVROKRV
7HPRVIRPHGHXQLGDGH
'HSDUWLOKDHFRPXQKmR
(VWHSmRGDFDULGDGH
1RVVXVWHQWDQDPLVVmR
7HPRVIRPHGDWXDJOyULD
4XHVDFLDRSRYRWHX
&DPLQKDPRVQDKLVWyULD
&RQVWUXLQGRRQRYRFpX
)
*P
*P
&
D E Y , L
N
N
NL
N N
N
N
OX]
GRV PHXV R OKRV
GR FH 6H QKRU
'H IH VD
GRV PHXV GL DV
D
%P
'P
'P&
)
)$
)
L
D L
N
L
N L
N
N
N
N
N
AL
L OX PL QDL 6H QKRU
R PHX FD
PL QKR SRLV VRLV D HV
SH UDQ oD
QD ORQ JD
*P
%DPDM
%D P
)
$GLP
&
)
L
DL
N , L
N D N
N
L
N L N L
7H[WRGRULWRGRDSDJDPHQWRGR&tULR3DVFDOQRGLDGH3HQWHFRVWHV
6DPEDFDQomR
$DGLP
0~VLFD,U0LULD7.ROOLQJ
'
QRL
WH
FKD PD
YL YD
OX]GRVPHXVROKRVGRFH6HQKRU
'HIHVDGRVPHXVGLDVLOXPLQDL6HQKRURPHX
FDPLQKR
GD PL QKD
YL GD
'HXV
PL QKD
/X]
3RLVVRLVDHVSHUDQoDQDORQJDQRLWH
FKDPDYLYDGDPLQKDYLGDy'HXVPLQKD/X]
&DQWDUHLDRPHX6HQKRU/RXYRUILQDO
*
'
' '
N N N P A N A A A A N AA AA N
N
N N N
N
N
N 5HIUmR &DQ WD N UHL DR PHX 6H N QKRU
HX FDQ WD N UHL DR PHX 6H N QKRU HX FDQ WD N
N N A A A A N A P A A N N N
N ! N N N N N
$
'
*
L
L
, N
A, A A N PA
N
N
N
N A
N
N
N
N
N
UHL
(X FDQ WD UHL
(X FDQ WD UHL
N
N
N PA
N
N
N
L
L
N
N
L
N
N
N
N L
,
N
N
N
N ! , , N
, N
1HJUR6SLULWXDO
,U0LULD7.ROOLQJ
L
N N
N
N
N
N
N
A A AA,
AA
AA
AA, A A AA
A
N N N
N
N
N
HX
FDQ WD
(X FDQ WD N UHL DR PHX 6H N QKRU
N UHL HX FDQ WD N UHL N N
N
L
, L
N L
N N N
N
L
N
, N
N
, N N N
N ,
N
N!
(X
FDQ WD
UHL
'
WD UHL
)
HX
FDQ WD UHL
$
HX
'
FDQ WD
'
A A A N A N L
N
N
N N
7X GRBHP
PLP
EHQ GL JD
R
VHX VDQ WR
QR PH
H
MD
(
$
&
N
A A A N A A N L
A N
AL
A A N A A N
PDLV PL QK
DO PDBHV TXH oDBRV
VHXV ID
YR UHV
0L VH UL
FyU GLD
)P
(
$
$
N N L
L
N
N N
L
N
N
AL
L
p
R 6H
QKRU
H SD UD
VHP SUH
p
VHX D PRU
UHL HX FDQ
DR
PHX
6H QKRU HX
FDQ
WD UHL
%P
HX FDQ WD
UHL
5HIUmR
&DQWDUHLDRPHX6HQKRUHXFDQWDUHLDRPHX6HQKRUHXFDQWDUHL
(XFDQWDUHLHXFDQWDUHLHXFDQWDUHLDRPHX6HQKRUHXFDQWDUHL 6O
/RXYDUHLRPHX6HQKRUSRUWRGDDYLGD
7XGRHPPLPEHQGLJDRVHXVDQWRQRPH
(MDPDLVPLQK
DOPDHVTXHoDRVVHXVIDYRUHV (Vy1HOHSRQKRDPLQKDHVSHUDQoD
9R]HVKXPDQDVQmRFDODUmR
0LVHULFyUGLDpR6HQKRU
$YR]GRFDQWRHPORXYDomR6O
(SDUDVHPSUHpVHXDPRU6O
7RGRVHVVHVFDQWRVGD0LVVDID]HPSDUWHGR&'&DQWDUHLDRPHX6HQKRU3DXOXV
0DLVFRUDomRQDVPmRV&'H'9'3URYtQFLD&DPLOLDQDGR%UDVLO
$,JUHMDFKDPD$EHUWXUD
/HWUD(XULYDOGR6LOYD)HUUHLUD
Dm
Gm
Dm ED
DD E
N N N Y N N
N N Y N D N A N
YL GD
QD
FX UDBD OL EHU WD
omR
7R GRV D PD GRV HP
&ULV WR
F
BD
D
Gm
Cm
N N N N
A AA
HQ IHU PRV QRV VRV LU PmRV
$RV SR EUHV QH FHV VL
WD GRV GR HQ WHV FKD
D
G B
DD D G
P
N Y N N N P N
N
0~VLFD(XULYDP6LOYD)HUUHLUD
0DUFKDUDQFKR
Gm
C G G C Cm G/D Em A
A A A A A A3 N A A N A A A DA A A N A A N A A A A A A N
PD GRV
Refro: 9H
omR
QKDP LU
PRV GRBD
PRU
6R
OH YHQ
FH
PRV
R
QH
G
E
B C B
D
N
AYYY N N N A A A A A A N P
7
JD PRV
%R D 1R YD SUH
SRLV
St
(V
U L WRBXQ
JLX
BD
G/B
A
D
G
(D )
N N S N
A
A
A AA AA AA
A
A
A PA A3 A3
A
A
A
PDO
Am
TXHP
QRV FX URX H
VDO
$,JUHMDFKDPDHFRQYLGD
3DUDR$PRU'RDomR
'DUXPVHQWLGRjYLGD
1DFXUDDOLEHUWDomR
7RGRVDPDGRVHP&ULVWR
(QIHUPRVQRVVRVLUPmRV
$RVSREUHVQHFHVVLWDGRV
'RHQWHVFKDPDGRVj5HVVXUUHLomR
5HIUmR
9HQKDPLUPmRVYHUGDGHLURV
-XQWRVQRPHVPRLGHDO
6RPRVGR$PRUPHQVDJHLURV
1HOHYHQFHPRVRPDO
$%RD1RYDSUHJDPRV
3RLVR(VStULWRXQJLX
4XHPQRVFXURXHVDOYRX
(DKXPDQLGDGHUHPLX
YRX
PD
HBDBKX
QL GD
3HORVVLQDLVSHUFHEHPRV
7RGRRSRGHUGH-HVXV
6XDYHUGDGHYHUHPRV
$RFDUUHJDUPRVDFUX]
1RVRIULPHQWRDSURYD
'RVHXDPRUTXHpXQomR
5HYHODDVXDERQGDGH
(GDHQIHUPLGDGHQRVOLYUDVXDPmR
3REUH]DHJUDWXLGDGH
)D]HPGRDPRUDPLVVmR
1RVVDRUDomRGHYHUGDGH
eRFRPSURPLVVRGHLUPmR
-HVXVR'HXV0LVVLRQiULR
0pGLFRpSRUDPRU
'H'HXVR)LOKR8QJLGR
/LEHUWDRSULPLGRVSURFODPDR6HQKRU
/F0W0W
GH
UH
PLX
,QFOLQDL6HQKRU6DOPRUHVSRQVRULDO6O
0~VLFD(XULYDOGR6LOYD)HUUHLUD
,QVSLUDGRQR6DOPR
& P
(
$
(
N
N
N
, A AA N
L
N
, A
A A A A , AL
A
N
N
N
N
N
N
6H
H
D WHQ N
Refro: ,Q FOL N QDL
N QKRU R YRV VRBRX N YL GR
N
N
N
N N N
N
N
A
L
L
L
L
,
NN
NN ! NN
NN NN , , NN
%
& P
%
(
(
)P
N N N N N N
, N
N
N
A A A A
A
N N
NN
N
N
N
N
N
GHL
(V FX WDL 6H QKRU H UHV SRQ GHL PH
PH
1N
N
N
N
N
N
N
N
N
N N
L
NN
N
N
N N
N
N
NN
N
N!
N
N N
N
)P
& P
%
$
%
*P
N N
N
N
N N N
SRU TXH VRX
OL]
3UR WH JHL PH
VRX R YRV VRBD
SR EUHBH LQ IH
(
$
&P
)
%
%
(
N L
N
N N N
N
6XSOLFDQWH
PL JR
VDO YDL
FR UD omR
GH
TXHP
FRQ IL DBHP
YyV
5HIUmR
,QFOLQDL6HQKRURYRVVRRXYLGRHDWHQGHLPH
(VFXWDL6HQKRUHUHVSRQGHLPH
3RUTXHVRXSREUHHLQIHOL]
3URWHJHLPHVRXRYRVVRDPLJR
6DOYDLRFRUDomRGHTXHPFRQILDHPYyV
7HQGHFRPSDL[mRGHPLP6HQKRU
3RLVFODPRDYyVRGLDLQWHLUR
6HLTXHYyVVRLVULFRHPDPRU
0LQK
DOPDHVSHUDSHODYRVVDFRPSDL[mR
$WHQGHLDVSUHFHVGHTXHPFODPD
'HTXHPVXSOLFDYRVVDDMXGD
,QFOLQDLRRXYLGRjPLQKDSUHFH
(PRVWUDUHLRYRVVR$PRUHQWUHDVQDo}HV
2FRVWXPHGHVHFDQWDURVDOPRDSyVDOHLWXUDUHPRQWDDRV
SULPHLURVVpFXORVGRFULVWLDQLVPRSUiWLFDKHUGDGDGRFXOWRGD
VLQDJRJDMXGDLFD6DQWR$JRVWLQKRIDODGRYDORUGRVDOPR
FDQWDGRGXUDQWHD/LWXUJLDGD3DODYUDFRPRXPDOHLWXUD
FDQWDGD)D]SDUWHLQWHJUDQWHGD/LWXUJLDGD3DODYUDFRPR
UHVSRVWDRUDQWHGDFRPXQLGDGHjSURSRVWDHjVPDUDYLOKDVGH
'HXVSURFODPDGDVQDSULPHLUDOHLWXUD
'RVDOPLVWDUHTXHUVHRPtQLPRGHSUHSDURWpFQLFRHYRFDO
OLW~UJLFRHPXVLFDO3URFODPHRVDOPRQRPHVPRDPEmRGH
RQGHVHSURFODPDPDVOHLWXUDVGHSUHIHUrQFLDH[WUDtGRGR
/HFLRQiULRTXHpDQRVVD%tEOLDOLW~UJLFD
'HYLGRjVXDLPSRUWkQFLDRVDOPRQmRGHYHVHURPLWLGRQHP
VXEVWLWXtGRSRUFDQWRGHPHGLWDomReXPFDQWRULWXDO
LQWHUOHFLRQDOFDQWDGRHQWUHDVOHLWXUDV
2VLOrQFLRpRSULPHLURSDVVRSDUDDFROKHUD3DODYUDSUHFLVDPHQWHSRUTXHIDYRUHFHRGLVFHUQLPHQWRHR
DSURIXQGDPHQWR%HQWR;9,
$OHOXLD(XVRXR6HQKRU$FODPDomRDR(YDQJHOKR
)
*P
&
)
D L
N A
N A A, N A A AA AA N A
N A
N
A A, N A A A A N A
)R[VROHQH
3H'DQLHO1LFROLQL
'
1.
OX LD
OH
OX LDBD
OX
A
LD
%
)&
'P
*
&
N N N ]
, N PA A A A N A N N PA A,L
A AL
A
PA A A A A
5HIUmR $ OH
%D
OH
OX LD
D OH
OX LD
OX
D OH OX
LD
LD
OH
D OH
OH OX
LD
&
)
$P
*P
'P
N N
N N N N N
D A AL
N
,
AA
A A AA AA AA
2. *P
&
)
$
'
D
N
N
A N N A A N D N N
D
OH
OX LDBD OH OX
LD
9HUVtFXOR (X
VRX
6H QKRU
WHX
'HXV
TXH
WH
FX UD
SR YR
PHX
6H JXDU GD UHV
PHXV
SUH
)
*
&
%DP
N
N
N
N
N
N
*P
FHL WRV
WH
OL EHU WD
UHL
GH
WR
GR
PDO
5HIUmR
$OHOXLDDOHOXLDDOHOXLDDOHOXLD
$OHOXLDDOHOXLDDOHOXLDDOHOXLDELV
9HUVtFXOR
(XVRXR6HQKRUWHX'HXV
4XHWHFXUDySRYRPHX
6HJXDUGDUHVPHXVSUHFHLWRV
7HOLEHUWDUHLGHWRGRPDO'W
$OHOXLDDGDSWDomRSRUWXJXHVDGR+DOHO~<DK /RXYDL-DYp3RUWDQWRFRQYLWHDRORXYRUMXELORVRDWUDYpVGR
TXDODDVVHPEOHLDDFROKHR6HQKRUTXHYDLIDODUQR(YDQJHOKRFRPRXPYLYDSDVFDODR9HUERGH'HXVTXH
QRVGLULJHSDODYUDVGHYLGDHWHUQDeXPDVROHQHHMXELORVDSURILVVmRGHIpFDQWDGDDFODPDQGR-HVXV&ULVWR1R
GL]HUGH6DQWR$JRVWLQKRpXPDHVSpFLHGHYRFDOLVHSDODYUDLQWUDGX]tYHOGRSXURORXYRUGLDQWHGR9HUERTXH
QRVIDOD'HYHVHUEUHYHGHQVRHVRQRUR3RULVVRPHVPRVySRGHVHUFDQWDGRQmRVHOrVyVHFDQWD2
LGHDO$OHOXLDWRGRRSRYRYHUVtFXORGRGLDVROLVWDRXFRUDO1D4XDUHVPDpVXEVWLWXtGRSRURXWUD
DFODPDomRPDVWDPEpPYLEUDQWHHVRQRUD
(QFRQWURVGH/LWXUJLDH&DQWR3DVWRUDOGHDQRVDQWHULRUHVHVWmRGLVSRQtYHLVHPIRUPDWRSGIQRVLWH
ZZZLUPDPLULDFRPEU)DoDRGRZQORDGLPSULPDDVSDUWLWXUDVHRUJDQL]HRVHXUHSHUWyULR
1RPHVPRVLWHDUWLJRVQRWtFLDVIRWRVDJHQGD0LVVDVFRPFULDQoDVSDUWLWXUDVGLYHUVDVHRXWURV
3DUWLWXUDVGRV&'VGD3DXOXVYHUQRVLWHZZZSDXOXVFRPEU
N N N
L
N
N L
N AA A A N N L
FKmR QmR SD UH FH
D
PH OKRU
FRL VD
GD
YL GD
1 - &D LU QR
$
'P
*
D &
L
N
N N L
N N N
N
&RP D
VH PHQ WHBD FRQ WH FH
HBH OD VH
VHQ WH IH
UL GD
(
$P
%
(
N
N A N N AL
L
N N N N N
0DV GR VHX
VR QKR FRU WD GR
QDV FH WDP EpP XP UH FD GR
$
$
%P
( $
N D N N N N N N N
N
A A A
N Refro: 6RX D SH N TXH QD VH N PHQ WH N
N VR QKR GH N IUX WR PD N GX UR N
N
N
N
A A N P A A A N N N N N N
A
N N N N N N N N N
N!
N
N
N
N
N N
N
N
$ $
) % (
N N N N P N N N N
N
A A A
A A A
N
N
N
N
N
N
N
N
N
7R PD 6H QKRU GH SUH VHQ WH
D
PL QKD GRU PHX IX WX UR
N N N N N N
N
N
N
N N N N N N N P N N
N!
N
N N N N N N
N
)
1. (P
$
2. $
$
%P
(
N A N N N P N ] A N A
N ] N P N A
N N N N N N
N N
N
YL QKR PHX SmR
WHQV D PH OKRU VR OX omR
omR
N
N
N
N
N
N
N
7R PD PHX
N
A A
N N N N N N
N N P N
N N N N ] N
N
N ! ] N N
&DQomR
(
$P
(
'P
$P
&DLUQRFKmRQmRSDUHFH
$PHOKRUFRLVDGDYLGD
&RPDVHPHQWHDFRQWHFH
(HODVHVHQWHIHULGD
0DVGRVHXVRQKRFRUWDGR
1DVFHWDPEpPXPUHFDGR
5HIUmR
6RXDSHTXHQDVHPHQWH
6RQKRGHIUXWRPDGXUR
7RPD6HQKRUGHSUHVHQWH
$PLQKDGRUPHXIXWXUR
7RPDPHXYLQKRHPHXSmR } Bis
7HQVDPHOKRUVROXomR
6RQKRFRPYLGDIHOL]
4XHUHVPHGDUSDUDtVR
0DVPLQKDGRUFRQWUDGL]
4XHUPHURXEDURVRUULVR
6yVHDVHPHQWHVHHQWUHJD
eTXHRMDUGLPQmRVHQHJD
eFDQWRIDFXOWDWLYRTXHDFRPSDQKDDDSUHVHQWDomRGDVRIHUHQGDVGHSmRHYLQKRHDRIHUWDGDFRPXQLGDGHQmR
GHYHQGRSURORQJDUVHDOpPGRULWR$DSUHVHQWDomRGRVGRQVpRSyUWLFRGHHQWUDGDGDOLWXUJLDHXFDUtVWLFD1mR
pXPFDQWRSDUDRIHUHFHURVDFULItFLRPDVEHQGLomRD'HXVSHORVIUXWRVGDWHUUDVLQWHWL]DGRVQRSmRHQRYLQKR
TXHGHSRLVVHWUDQVIRUPDPHPSmRHYLQKRGDVDOYDomR
4XHPLVWpULRGHYLGDpHVWH"&RPXQKmR
%DODGD
/HWUD(XULYDOGR6LOYD)HUUHLUD
0~VLFD3H'DQLHO&1LFROLQL
*
%P
*
(P
N A A ] A A N L
A A A A N A N N
1 - 4XH PLV
Wp ULR GH
Wp ULR GH
HV WH
HV WH
YL GD p
YL GD p
%P
VX PHBR KX PD QR VR
WRU QD 3DV WRU GR UH
IUHU"
4XH LP
EDQKR" 4XHP R
'
1. '
TXH DV
TXH VH
$P
&
A A N A A A A A N A N A A ]
N N L
A
A
S}H VX DV PmRV VR EUHBR PXQ GR
VR ]L QKR
VH JXH QmR DQ GD
QH OH FUHU"
VHP WD
4XH PLV
'
(P
')
*
%'
2.'
L
L
L
L
N N
N
N N N
N
N
'
L
L
L
N
N
N
N G N , A N A , N
JUL WR
H YRX OR JR
D WHQ GHU
(X VRX R 0LV Wp ULR
VRX PDLV YL GD
* (P
(
$P
'
& '
%P L
L
L
N , N , N N A A A A, N A
N
A A
PD QKR" Refro: 9yV TXHBHV WDLV
(P
D IOL WRV
$
IHL WR SmR
VR FRU UHU
$P
4XHPLVWpULRGHYLGDpHVWH
4XHDVVXPHRKXPDQRVRIUHU"
4XHLPS}HVXDVPmRVVREUHRPXQGR
3DUDRPXQGRSRGHUQHOHFUHU"
4XHPLVWpULRGHYLGDpHVWH
4XHVHWRUQDSDVWRUGRUHEDQKR"
4XHPRVHJXHQmRDQGDVR]LQKR
0RVWUDDWRGRVDPRUVHPWDPDQKR
QHV WD
5HIUmR
9yVTXHHVWDLVDIOLWRV
9LQGHDPLPYRXVRFRUUHU
(LVTXHHVFXWRRJULWR
(YRXORJRDWHQGHU
(XVRXR0LVWpULR
6RXPDLVYLGDIHLWRSmR
6RXRSUySULR&ULVWR-HVXV
1HVWDFRPXQKmR
FR PX QKmR
4XHPLVWpULRGHYLGDpHVWH
4XHUHYHODDPRUDRVSHTXHQRV
4XHDIDVWDGHQyVWRGRRPHGR
'HFUHVFHUHPWmRIpUWLOWHUUHQR"
4XHPLVWpULRGHYLGDpHVWH
4XHH[SXOVDRPDOHDGRU"
4XHWHPSHQDGRSRYRTXHVRIUH
(DFROKHDWRGRVFR
DPRU"
4XHPLVWpULRGHYLGDpHVWH
4XHHQVLQDDOHLGR6HQKRU"
4XHUHYHODQXPVyPDQGDPHQWR
$DOHJULDGDYLGDQRDPRU"
4XHPLVWpULRGHYLGDpHVWH
4XHQRVID]HQ[HUJDUVXDOX]"
4XHQRVPRVWUDTXDOpRFDPLQKR
4XHjFDVDGR3DLQRVFRQGX]"
4XHPLVWpULRGHYLGDpHVWH
4XHVHGiHPPDUWtULRWRWDO"
4XHFDUUHJDHPVHXVRPEURVRSHVR
3UDFXUDUQRVGHWRGRRPDO"
4XHPLVWpULRGHYLGDpHVWH
4XHQRVID]H[XOWDUGHDOHJULD"
PLVWpULRTXHGRPWmRSURIXQGR
e-HVXVIHLWR(XFDULVWLD
'L]D,*05(QTXDQWRRVDFHUGRWHHRVILpLVUHFHEHPR6DFUDPHQWRWHPOXJDURFDQWRGDFRPXQKmRFDQWR
TXHGHYHH[SUHVVDUSHODXQLmRGDVYR]HVDXQLmRHVSLULWXDOGDTXHOHVTXHFRPXQJDPGHPRQVWUDUDRPHVPR
WHPSRDDOHJULDGRFRUDomRHWRUQDUPDLVIUDWHUQDODSURFLVVmRGRVTXHYmRDYDQoDQGRSDUDUHFHEHUR&RUSRGH
&ULVWR2FDQWRWHPLQtFLRTXDQGRRVDFHUGRWHFRPXQJDSURORQJDQGRVHHQTXDQWRRVILpLVFRPXQJDPDWpR
PRPHQWRTXHSDUHoDRSRUWXQR
1RVVD6HQKRUDGD6D~GH/LWXUJLDGDV+RUDV2ItFLRGDV/HLWXUDV
$GDSWDomRHP~VLFD,U0LULD7.ROOLQJ
'ROHQWHVXSOLFDQWH
'D
$
'P
N
N
N N L
N L
N L
WR GDBDBKX PD QL GD GH
QD PD LRU
GH VR OD omR
PDV D
1 - *H PH
'
*P
(
$
D
N L
N
L
L
N L
N
N L
N &ULV WRBD 6DO YD N omR Refro:
9H QKDBD N
N
9LU JHP VHBLQ FOL N QDQ GR
WUD] R
N
N
N
N
N
N
N
N
N
N
N
N
N! D
N
N
*P
$
'P
& ) %D *P
L
L
D L
N L
,
, A
N
, N , A
N ,
N L
,
A
N
N
N
N
QyV
H QRV
D
MX GH
9H QKDBD QyV
H
QRV
D
MX GH
y 6H
N
N
N
N
N
L
A
L
A
, L
N
N L
, , N , N L
N
N ,
N
N
N
N ! D
(
$
'P
*P
'
D
N N
, AA AAL
L
N
N
,
A
,
A
N
N
NN
N
QKR UD
GD
6D
~ GH
( Final:
N
N N $
N PpP
N
A
A
, P
L
N L
L
N
N
,
N N
, N
N!
NN
N
'P
*HPHWRGDDKXPDQLGDGH
1DPDLRUGHVRODomR
0DVD9LUJHPVHLQFOLQDQGR
7UD]R&ULVWRD6DOYDomR
5HIUmR
9HQKDDQyVHQRVDMXGH
9HQKDDQyVHQRVDMXGH
6HQKRUDGD6D~GH
)LQDO$PpP
3HORVVpFXORVDIRUD
&RPSDVVLYDHVWHQGHRYpX
4XHQRVOLYUDGDGRHQoD
(SRUILPQRVOHYDDRFpX
4XHUDWRGRVVmRVHVDOYRV
4XHPQRVWURX[HR6DOYDGRU
4XHPQDVFKDJDVGRSHFDGR
3{VREiOVDPRGRDPRU
7RGRRPDOTXH(YDIL]HUD
9HQVy0mHWXGHVWUXLU
7XTXHDRFpXIRVWHHOHYDGD
6HPSHFDGRFRQWUDLU
$WDO0mHUHFRUUHRSRYR
&LUFXQGDQGRRVHXDOWDU
'HXVTXHQHODIH]SURGtJLRV
7RGRVSRGHPFRQWHPSODU
6DQWtVVLPD7ULQGDGH
+RMHHUJXHPRVQRVVDYR]
6XDVJUDoDVSRU0DULD
6HGHUUDPHPVREUHQyV
3DUDTXHPUH]DD/LWXUJLDGDV+RUDVH[FHOHQWHVLWHGHWH[WRVHPHORGLDVGH6DOPRVKLQRVFkQWLFRV
KWWSZZZOLWXUJLDGDVKRUDVRUJPXVLFDKWPO
!
"
D
DD
D
] A
A A
]
L
A
D
D
D
/
DD
L
A 7A
D ]
]
.
$.
%
#
+
0
-0
*
+
"
$1
+2)
+
%
,,
*
0,
*
(Quaresma):
- Ao Senhor voltemos, bem de corao, (bis)
Que ele nos converta pelo seu perdo. (bis)
#
#$
%
&
'
(
%
)
$#
#
#
*
,
N
N
N
N
N
N
A
. *
#
N N N
N
N N N L
*
& .
#
. *
& .
, N
N N A A N A
] N L
L
(
.(
#
.
, N N A ] A
N N L
N
A
!#
%
4# 5
(6&
7*
*
#
*
8 &
#
* 8
.(
%
***
***
%
9*
(
*
(:
-;
8
$
* 8
!
"#$% ?*
(
+$
#+
(*
8
-($$* 8
D L
N
N
N
N
L
N L
:
<
D L
N Y N N 9 N 9
N
A
@
%
%
&1#
@
()*
+*
&,
5
#CD
!
5
(/
, P
N N N
N N
N
N
N
1 - /
.
B
8 $
/
/
N S PS N N N A N
N
N
N N
!#
N
N N A A N N A A N A A N L
N N N
0,
.
@
N N A N A A N AN N
*
@
;*
/
B
E$
0,
: #
* :
<*
!
$
-
1
"2-$
#
: #
$
,
$
$#
* :
@
*
7*
$
9
$
-
$
E
$
$
:
0
,
* :
G*
H
E
*
#
,
&
*
: +$
"$9-9#* :
#
#
:
=*
9$
$
$
8#
: $
'F0
* :
A*
"
+
5
(*
+
$1
8*
: E
I
F
$*(% :
N N N
AA N
#
#
#
$9%
@
#
#
#
$9%
4
*D-,
)D
!4# ;K,
5
,
"
7K,
:
/
N
N N N L
N N N N N N
N
N
N AL
. #
*
(
9%
(
;K,
7K,
#
*
2#
,
9*
AL
(
9%
#,
"%
N N
@
9%
7J
L
#,
"L"
7HQGHFRPSDL[mR$WR3HQLWHQFLDO
)
%P
(
$
N
N
N
N AL
N A
N
L
N
3UHV 7HQ GH
FRP SDL
[mR
GH
QyV
6H QKRU $VV 3RU TXH
VR PRV
SH FD
'
(
$
$ ' ' GLP $(
N
N N L
L
L
N
N A N
N
GR UHV
6H QKRU
D
YRV VD PL VH UL
3UHV 0D QL IHV WDL
%P
$ )
( ' ( $
N
L
N
N N N N N N N
/HWUD0LVVDO5RPDQR
0~VLFD/HDQGUR(YDULVWR)HUUHLUD
7RDGD
FyU
GLD
$VV (
GDL
QRV
3UHV7HQGHFRPSDL[mRGHQyV6HQKRU
$VV3RUTXHVRPRVSHFDGRUHV
YRV
VD
VDO YD
omR
3UHV0DQLIHVWDL6HQKRUDYRVVDPLVHULFyUGLD
$VV(GDLQRVDYRVVDVDOYDomR
'
*
'
(P $P
*
' * $P
& ' * (P
L
L
L
L
L
L
N N N N N N N
N L
N
N
N$
N PpP N $
N PpP 3D UD NVHP SUHBD N PpP
$
PpP
N
N N L
N
N
N
N
A A
A AL
A L
A AL
N
N
N
N
N
N
N
N
N
N ! N
N N
N N
N
$PpP'R[RORJLD
'DQLHO'H$QJHOHV
$PpP$PpP$PpP3DUDVHPSUHDPpP
3D UD
VHP SUHBD
PpP
)RQWHGD/X]+LQRSDUDD/LWXUJLDGDV+RUDV2UDomRGD7DUGH
/HWUD%LVSRVGH3RUWXJDO
0~VLFD-RVp:HEHU69'
%
$P & ) $P
L
D
N
N
N
N
N N
N
L
)RQ WH GD /X] y
'HXV VX PRBHV SOHQ GRU
RX
EH QLJ QD PHQ WH QRV VDV
D YL $P
$P
'P
$P
&
)
%
& '
N D N N
N
N L
N N N
'P
)RQWHGD/X]y'HXVVXPRHVSOHQGRU
2XYLEHQLJQDPHQWHQRVVDVSUHFHV
9yVTXHYHQFHLVDVWUHYDVGRSHFDGR
,OXPLQDLQRV
&KHJDPRVDRILQDOGHPDLVXPGLD
(PTXHQRVDVVLVWLXDYRVVDErQomR
3RULVVRQyV6HQKRUYRVGDPRVJUDoDV
$WRGDKRUD
WUH YDV GR
SH
FD GR
L OX PL QDL
QRV
$VRPEUDGHVWDWDUGHGHVFHOHQWD
(OHQWDGHVFHDQRLWHVREUHDWHUUD
6HQKRUYyVVRLVRVROGDYLGDHWHUQD
/X]VHPRFDVR
5HFRQKHFHPRVFRPRSHFDGRUHV
4XHpSUHFLVRHPHQGDUQRVVDVIDOWDV
(PYyVFRQILDRQRVVRFRUDomR
(DYyVVHHQWUHJD
/RXYRUHKRQUDDYyV6HQKRUGDJOyULD
(DRYRVVRDPDGR)LOKRH6DOYDGRU
/RXYRUHJOyULDDR(VStULWR'LYLQR
3RUWRGRRVHPSUH
L
N
N N
N N
N N N
DV VHP EOH LD
VDQ WD
SR YR VD FHU GR WDO
3R YR GH 'HXV
5HIUmR 3R YR GH UHLV
)
$P
*
(P
&
'P
) (
* $ 9&
L
L
,
9
N
N NN
1yVWHFDQWDPRVy)LOKREHPDPDGRGR3DL1yVWHORXYDPRV&LrQFLDHWHUQDH9HUERGH'HXV
6ROHQH
3H1H\%UDVLO
&
$P
(P
$P
(P
'P
$P
5HIUmR
3RYRGHUHLVDVVHPEOHLDVDQWDSRYRVDFHUGRWDO
3RYRGH'HXVFDQWDDRWHX6HQKRU
1yVWHFDQWDPRV
1yVWHFDQWDPRV
y)LOKREHPDPDGRGR3DL
y0HVVLDVHQYLDGRDRVSREUHV
1yVWHORXYDPRV
1yVWHORXYDPRVyQRVVR5HL
&LrQFLDHWHUQDH9HUERGH'HXV GHFRUDomRPDQVRHKXPLOGH
1yVWHFDQWDPRV
y&RUGHLURSRUQyVLPRODGR
1yVWHORXYDPRV
WXTXHWLUDVRSHFDGRGRPXQGR
1yVWHFDQWDPRV
y%RP3DVWRUTXHQRVFRQGX]HV
1yVWHORXYDPRV
WXTXHSRUQRVVRDPRUGHVWHDYLGD
1yVWHFDQWDPRV
y)LOKRGD9LUJHP0DULD
1yVWHORXYDPRV
y&ULVWRQRVVR,UPmRH6DOYDGRU
1yVWHFDQWDPRV
y9LGHLUDTXHGiVYLGDDRVUDPRV
1yVWHORXYDPRV
1yVWHFDQWDPRV
(VWUDGDGDYLGDFDPLQKRGRFpX y&ULVWRDOLPHQWRHEHELGD
1yVWHORXYDPRV
y3mRTXHFRQIRUWDH9LQKRTXHDOHJUD
6RPRVWRGRVFRQYLGDGRV
&RPXQKmR
GR&'/X]GD/X]3DXOXV
&DQomR
/HWUD)UHL-RVp0RDF\U&DGHQDVVL2)0FDS
0~VLFD$GHQRU/HRQDUGR7HUUD
,
D N
N A N
N
D
N N N
L
N
A
L
A
P
QHV WH PXQ GR L PR OD
GR
GRV YL YHQ WHV pBR
SUL PHL UR
*P
'P
$
'P
N N L
D L
N
N
1mR
VH MD PRV VH SD UD GRV
GR D PRU TXHBDR PXQ GR YH LR 5HIUmR 6H
'
')
*P
&
) '
D
N N
N
N
QKRU
D
WX D
3iV FRD FRQ ILU PD
GD QR PD GHL UR
p SH
*P
$
'P
%D
*P
$
'P
D
N
L
L
N N
L
L
QKRU
GD $ OL DQ oD
H R
ILP
GR FD WL YHL UR
'P
*P
*P
&
5HIUmR
6RPRVWRGRVFRQYLGDGRV 6HQKRUDWXD3iVFRD
SDUDD&HLDGR&RUGHLUR
FRQILUPDGDQRPDGHLUR
1HVWHPXQGRLPRODGR
eSHQKRUGD$OLDQoD
GRVYLYHQWHVpRSULPHLUR HRILPGRFDWLYHLUR
1mRVHMDPRVVHSDUDGRV
GRDPRUTXHDRPXQGRYHLR
([DOWDGRQR&DOYiULR
R6HQKRUDEULXFDPLQKR
(OHJHQGRDVDQWXiULR
RKXPDQRSHUHJULQR
2VHXUHLQRpFRQWUiULR
DTXHPQHJDRSHTXHQLQR
26HQKRUDFDGDGLD
YHPDEULUQRVRVRXYLGRV
&R
D3DODYUDTXHQRVJXLD
HGiIRUoDDRDEDWLGR
eFRQYLWHGHRXVDGLD
IUHQWHjPRUWHHDRSHULJR
26HQKRUpDQRVVDHVWUDGD
6DOYDomRDRPXQGRLQWHLUR
&RPXQKmRTXHQRVDEUDoD
1RVVRILPHSDUDGHLUR
eRDPRUTXHQXQFDSDVVD
/X]TXHEULOKDDRFDPLQKHLUR
'R'HXVYLYRHYHUGDGHLUR
5HFHEHPRVSOHQDYLGD
3UDYLYHUPRVSLRQHLURV
/LEHUGDGHDPDLVTXHULGD
(LVRVRQKRTXHpSULPHLUR
'HVGHDKLVWyULDPDLVDQWLJD
'RWULXQIRVREUHDPRUWH
1yVID]HPRVDPHPyULD
0DLVTXHDFUX]R&ULVWRpIRUWH
(FRQTXLVWDDYLWyULD
'RVHXSRYRpRQRUWH
26HQKRUGHWRGDDKLVWyULD
)HOL]3iVFRD$EUDoRGD3D]/RXYRU)LQDO
-XELORVR D
%
*P
'P
*P
D D E
N
N
N
N N
N
3H1H\%UDVLO
*P
'P
IH OL]
%D
D
D
N
N AY N N
N A AL
N A AL
3iV FRD
2 6H QKRU UHV VXV FL WRX
2 6H QKRU UHV FXV FL WRX
*
&
$P
(P
(P
DD
PP $P
N
N
N N
N
N
N
,QVWUXPHQWR
)H
)H
OL]
IH OL] 3iV FRD
OL]
IH OL] 3iV FRD
)H
(P
(P
$P
$P
'P
*
'P
*
&
N AL
N
N AL
N AY N N
N
OL]
IH OL] 3iV FRD
2 6H QKRU UHV VXV FL WRX
2 6H QKRU UHV VXV FL WRX
%P
)
%P
)P
$
'
P
N
NN
N
N
N
N
,QVWUXPHQWR )H OL]
IH OL] 3iV FRD
)H
OL]
)H OL] 3iV FRD
)H
P
P %P
)
(P
%P
(P
$
)
$
'
N N
N N L
L
N
Y
)H
OL]
'P
)H
'P
OL]
IH OL] 3iV FRD
&P
*P
)H OL]
)
OL]
)HOL]IHOL]3iVFRD)HOL]IHOL]3iVFRD)HOL]IHOL]3iVFRD
26HQKRUUHVVXVFLWRX26HQKRUUHVVXVFLWRX
%HQGLWRVHMDV'HXVGD9LGD
LQFHQVDomRGR&tULRQR7HPSR3DVFDO
/HWUD/LWXUJLD3DVFDO
0~VLFD,U0LULD7.ROOLQJ
(P
$P
'
*
(
* ' *
N N L
L
N A N L
N N A A
N N L
N
SH OD UHV VXU UHL omR GH &ULV WR
H SRU HV WD
6ROR %HQ GL WR VH MDV 'HXV GD 9L GD
$P
'
*
'
*
$P
(P
N N
N N N N N L
N L
N L
L
A
OX] UD GL DQ WH OX] $VV +R MHBp R GL D
GDBD OH JUL D
KR MHBp R
GL D
*
&
&P
*
(
$P
*
'
N
N
L
N N AL
N
N
GDBD OH JUL D
H D WULV WH ]D QmR SR GH SHQ VDU HP FKH JDU
$ OH OX LD D OH
'
*
6ROR
7RGRV
OX LD D OH
OX LD
(SRUHVVDOX]UDGLDQWHOX]
$OHOXLDDOHOXLDDOHOXLD
9HPy6HQKRUDQRVVD
$
%&'(
$
)
"* (+
,-.
!
#
!
L
D L
, N
N N L
,
N
N
]
N
A
N
N
N
N
N
N
/)0 ( 01
"
N
N
N
N
A A A A N
A
A A A A A AL
A
A
A
N
N N
N L
N
N ,L
N , N ]
, N
N ! D N
N
3
!
23
D
"
, N A A
N N A AL
]
)6
7=)( 1 .
A
N
N
N
69
)
:
N ! D N , N ] 78&)
) &
"
37
>3
) &,
+?6
6)
:
7@
) &
..)
37
A3
")
)6
7
)
4
<)
37
3
4
)
!
4
8
#
:
7
; 6'
8
)
)<'
37
2K9LQGH(VStULWR&ULDGRU1
(
; 6'
!
!
N N N A N N N N N N
0; 6'
!
3
%B
!
;
!
N N
N
N N N
N N
N
NN
C
N N
N N N AL
N N
N
N
N
N
A A N N A N N
N N N , N N
N ! N N N N
%
!
(
E
!
(
(
4
3
%B; 6'
!
B
%
(
E (
!
4 B
5HIUmR G
0; 6'
B
5HIUmR'LYLQR(VStULWR
3
G
=)
8
"
8
8
!,)
.&
B
A3
3
4
6
%B
(
(
8
89
!
) :
;
))(
#9
;
"B
/).
6
( B
2>
B
23
!
!
;
8;<(
#
#
4
;
F
6
)B
>3
)
%
&(
5)
#
(
(B
C3
@
4)
8
/) )4)B
; 6'
4
3,B
(VStULWRGH'HXVWRPDFRQWDGHPLP5HIUmRRUDQWH
) P
/HWUDHP~VLFD,U0LULD7.ROOLQJ
$
)P %
%P
'
%P
(P
L
N N L
N N N
N A N N N
(V St UL WR GH 'HXV WR PD FRQ WD GH PLP
WR PD FRQ WD GH
PLP
(V
(
$
*
'
(P *P ' %P
N
N N
N N A N N
St UL WR GH
'HXV
(V St UL WR GH
'HXV WR PD FRQ
WD
GH
PLP
(VStULWRGH'HXVWRPDFRQWDGHPLPGHQyV
WRPDFRQWDGHPLP
(VStULWRGH'HXV(VStULWRGH'HXVWRPDFRQWDGHPLP
&''HXVpERP3DXOXV
%HQGLWDVDV0DUWDVH0DULDVDVFLJDUUDVHDVIRUPLJDV
9LUDSRUWXJXrV
/HWUDHP~VLFD,U0LULD7.ROOLQJ
&
%
)
D N N L
N
N A
AL
%HQ
AL
N
GL WDV DV PmRV GH
0DU WD
TXH VHBR FX SDP
HP VHU YLU
3}HP
&
)
*
&
)
&
L
N N N
N
N
H ODV
D PH VD
IDU WD
SD UDBD IR PH GL PL QX LU
e 0D UL D WDP
&
)
)
%D
M
D L
N L
N
N
N
N
N N N N N
N
EpP IH OL]
)
&DQ WDU
YL GD
&
) & )
N N
N
N
SUDBD OH JUDU GR PXQ GRBR FR UD omR 5HIUmR 9D PRV WR GRV D
D EUD oDU
2 EUL JD
%HQGLWDVDVPmRVGH0DUWD
4XHVHRFXSDPHPVHUYLU
3}HPHODVDPHVDIDUWD
3DUDDIRPHGLPLQXLU
e0DULDWDPEpPIHOL]
2XYHHFDQWDRTXH'HXVOKHGL]
&DQWDUDILQDOpDQRVVDYLGD
3UDDOHJUDUGRPXQGRRFRUDomR
GR
GH
FL UDQ GDU
(
IH OL ]HV QRV
FR UD
omR (
%HQGLWDVDVIRUPLJXLQKDV
4XHWUDEDOKDPVHPFHVVDU
7UDQFDGDVOiQDFR]LQKD
3UDDVFLJDUUDVDOLPHQWDU
&LJDUULQKDHXVRXGH'HXV
&DQWRDOHJUHRVORXYRUHVVHXV
'LUHLWRHXWHQKRDRDOLPHQWR
3DUDVXVWHQWDUDPLQKDYR]
5HIUmR
9DPRVWRGRVDFLUDQGDUHIHOL]HVQRVDEUDoDU
2EULJDGRGHFRUDomR(YLYDDQRVVDEHODXQLmR
YL YDBD QRV VD EH OD
X QL mR
%HQGLWRVRVFR]LQKHLURV
(EHQGLWDVVXDVPmRV
$PLJRVHFRPSDQKHLURV
6HPYRFrVHXQmRFDQWRQmR
7UDEDOKDUHFDQWDUID]EHP
6HULUPmRVpTXHQRVFRQYpP
6HUYLQGRR6HQKRUFRPDOHJULD
&XPSUHFDGDXPVXDPLVVmR
6mRMiFLQTXHQWDDQRV
&RPHPRUDQGRRVDQRVGD 6DFURVDQFWXP&RQFLOLXP
C Dm C G C
,
N A N
N
N L
N AL
, A A A
A
, A A A
N AL
N
N
N
N
N N L
N
N!
N N
N N
6mR
D QRV GH
FDQ WRBH ORX YRU GH ORX YRU TXHBHP
PH OR
Am
D
G
C
C
F
, N N P N N L
N
N
,
N , L
N 'HXV QR %UD N VLO TXH FH N
N
N
GL DV VHBH N OH YDBDR 6H QKRU
eBR N SR YR
GH
N
AA A N A N A N A A N D A N A P A N
N
' N
L
N
N
N
N
N N N N
N ! N N
QKRU eBR SR YR GH 'HXV QR %UD VLO TXH FH
GL DV VHBH
OH YDBDR 6H
F
G
C
C/G D
N
P N N N
N N N
N GR VHX YL N YHU GR VHX YL YHU N N
N OH EUD VXD N Ip H ID] OL WXU N JL D
N
A N N N N
N A
N
A A A A A A A
AL
A
'
'
N
NN
N
N
N
N
N
N
N!
N N
N
N
OH
EUD
VXD
Ip OL WXU
JL D
GR
VHX YL
YHU
YL YHU
E
Am
E
N
L
L
L
N
N
N N A
A N A A
1 - 6H PHQ WH IRL ODQ oD GD
EUR WRX VH IH]
YR]
H VH IH] FDQ WR HP WR GRV
Am
B
E
A
Dm
B
N N N N
N
N A L
N
QyV
pBR &DQ WR EHP 3DV WR UDO
%HQ GL WR TXHP ID] D
JHQ WH FDQ WDU VHP SUH QR YD
Em
G
D G D
N
N N
N N
PHQ WH
RBD PRU
YL YRBH SHU PD QHQ WH
GR 0LV
Wp ULR
3DV
FDO
9DOVD
/HWUDHP~VLFD,U0LULD7.ROOLQJ
5HIUmR
eRSRYRGH'HXVQR%UDVLOTXHFHOHEUDVXDIp
6mRMiFLQTXHQWDDQRVGHFDQWRHORXYRU
(ID]OLWXUJLDGRVHXYLYHU
4XHHPQRYDVPHORGLDVVHHOHYDDR6HQKRU
&DQWDLXPFDQWRQRYR
8PSRYRTXHFDQWDQGR
6HPHQWHIRLODQoDGD
&DQWDLDR6HQKRU
&HOHEUDVHX'HXV
%URWRXVHIH]YR]
)D]HLGDYLGDSUHFHHORXYRU
(PPHORGLDVHYHUVRVVHXV
(VHIH]FDQWRHPWRGRVQyV
1DIRUoDGDXQLmR
0DLVFRPSURPHWHRYLYHU
eR&DQWREHP3DVWRUDO
'HXVIH]JUDQGHVPDUDYLOKDV
%HQGLWDDFRPXQLGDGH
%HQGLWRTXHPID]DJHQWH
'HQyVXPDVyIDPtOLD
4XHYLYHDIUDWHUQLGDGH
&DQWDUVHPSUHQRYDPHQWH
)HOL]TXHVHXVGRQVSDUWLOKD
QDEXVFDGDXQLGDGH
2DPRUYLYRHSHUPDQHQWH
(FRQVWUyLFRPXQKmR
0DLVIHOL]KiGHVHU
'R0LVWpULR3DVFDO
2EV3RGHVHUFDQWDGRHP/D0
%HQGLWRVHMDR1RPHGR6HQKRU3DUD([pTXLDV'LDHWF
'HGLFDGRD'RP&OHPHQWH,VQDUGTXHIH]VXDSDVVDJHPGHILQLWLYDQRGLDGHDJRVWRGH
HP5HFLIHDRVDQRVGHLGDGH
7H[WR-y
*'
*
(P
'
$P
A N
N
, A A N A
, A N
, N AL
AL
N
N
N
N
VH MDBR 1R PH GR 6H
2 6H QKRU GHX
2 6H QKRU WL URX
%HQ GL WR
N
N
N
N
N
N
N L
N
N
N E L
'
N , N
N
N!
N
*
$
&
* & L
'P % (P
N N
, N , N
L
L
N A
,
A
N
N
N
N
N
QKRU
VH MDBR 1R PH GR 6H
2 6H QKRU GHX
2 6H QKRU WL URX
%HQ GL WR
N
A A N A N
N N
, N
L
L
N
N
D N
N
N , N
N
, N
N!
)
&
&(
'P
*
$ 'P 'GLP
N
, L
N L
, A A A A A
, N AL
N
N
N
%HQ GL WR
VH MDBR 1R PH GR 6H QKRU
L
N
N QKRU
N
A A A AL
A , N
N
, , N L
N
N
N!
0~VLFD,U0LULD7.ROOLQJ
'P
&
26HQKRUGHX26HQKRUWLURX
%HQGLWRVHMDR1RPHGR6HQKRUELV
%HQGLWRVHMDR1RPHGR6HQKRU
'RP&OHPHQWH,VQDUGDQRVGHLGDGHGHSURILVVmRPRQiVWLFDFRPRPRQJHEHQHGLWLQRGH
RUGHQDomRVDFHUGRWDOHGHHSLVFRSDGRFRQFOXLXDOLWXUJLDGHVXDYLGDWHUUHQDDGHDJRVWRGHTXDQGR
RVDQMRVHVDQWRVFHUWDPHQWHSRUHQWUHFDQWRVRFRQGX]LUDPjIHVWDGRFpX0DUFRXHOHSURIXQGDPHQWHD
,JUHMD GR %UDVLO VREUHWXGR SHOD VXD DWXDomR QR SURFHVVR GH UHQRYDomR GD OLWXUJLD LQLFLDGR SHOR PRYLPHQWR
OLW~UJLFRHFXOPLQDGRQR&RQFtOLR9DWLFDQR,,FRQIRUPHD5HYLVWDGH/LWXUJLDTXHOKHGHGLFRXDHGLomRGH
QRYHPEURGH]HPEURGHLQWHLUDGDQGRDSDODYUDDTXHPPDLVGHSHUWRRFRQKHFHXHFRPHOHFRQYLYHX(
IRLLQVSLUDGDQRWRFDQWHWH[WRGH5HJLQDOGR9HORVRTXHWDPEpPHXPHVHQWLLPSHOLGDDID]HUOKHHVWDVLQJHOD
KRPHQDJHPPXVLFDO26HQKRUGHX26HQKRUWLURX%HQGLWRVHMDR1RPHGR6HQKRU-y
)HOL] GH TXHP WHYH D JUDoD GH FRQKHFrORH DSUHQGHU GH VXD HYDQJpOLFD VDEHGRULD VHX LQFRQGLFLRQDO
DPRU SHOD ,JUHMD VXD SURIXQGD SDL[mR SHOD OLWXUJLD H VXD FRUDJHP SURIpWLFD &RPR %LVSR &RQFLOLDU FRPR
6HFUHWiULR1DFLRQDOGH/LWXUJLDFRPR9LFH3UHVLGHQWHGD&1%%FRPR3DVWRUGH1RYD)ULEXUJR5-HRXWUDV
IXQo}HVLPSRUWDQWHVTXHRFXSRXIRLHOHXPPDUFRGHFLVLYRSDUDDUHQRYDomROLW~UJLFDHVXDSUiWLFDQDQRVVD
,JUHMDGR%UDVLOFRQWULEXLQGRGHIRUPDH[WUDRUGLQiULDSDUDDUHQRYDomRGHVHMDGDSHOR&RQFtOLR9DWLFDQR,,
1HVWHPRPHQWRKLVWyULFRHPTXHQRVSUHSDUDPRVSDUDFHOHEUDURVDQRVGHUHIRUPDOLW~UJLFDTXH
HVWHGRPGH'HXVSDUDQyV&OHPHQWHSHORQRPHH&OHPHQWHSHODYLGDVHJXQGR'RP0DWLDV5-LQWHUFHGD
DR 3DL SHORV TXH DLQGD SHUHJULQDPRV QHVWD WHUUD SRU HQWUH OX]HV H VRPEUDV D FDPLQKR GD SHUIHLWD OLWXUJLD
$PpP
0DULD0mHGD(WHUQD9LGD
GR&'&DQWDUHLDRPHX6HQKRU3DXOXV
*
*
'
(
E L
N A N
L
N
N
L
GD
TXHBXP GLD D
VH IH] &DU QHBHP WL
5HIUmR 0D UL D 0mH GDB( WHU QD 9L
'
$P ( $P
( $P
, L
A N
A A L
N
N
N
( SRU FD PL QKRV GD
KLV Wy
ULD
HV WUD GDV SHU FRU UHX VHP ILP
*
'
)
(
*
)GLP
(
N
L
P
AL
N
N
0DL
UL D QRV VD 0mH TXH UL
GD
WHXV
IL OKRV KR MH Yr
D TXL
D
*
% GLP
' $
'
$P &P *
L
L
N
N
N NN
,U0LULD7.ROOLQJ
0DUFKDUDQFKR
D D
N L
N
L
N
L
'
ULD
%D
IH OL]
PHPy
D
,
N
OKDBD OX] GR WHX
R OKDU
)RQ WH GD
YL GD
i JXD FULV
WD OL
* &P
DD *P %GLP
N
L
L
D N D
N
2 OKDBD PX
OKHU
VRO
)
GD
ID
Pt
'
OLD
SRLV
QH OD
EUL
L
D D
N
L
P L
N
L
QD
*P
SpV
PX OKHU
IH
PL QL
PD WHU QRBH
QRV
WHU
QR
VHU
pBR
VHX
%HQ GL
WD
'
YL
YHU
5HIUmR
0DULD0mHGD(WHUQD9LGD
4XHXPGLDVHIH]&DUQHHPWL
(SRUFDPLQKRVGDKLVWyULD
(VWUDGDVSHUFRUUHXVHPILP
0DULDQRVD0mHTXHULGD
7HXVILOKRVKRMHYrDTXL
&DQWDPRVWHXORXYRUHJOyULD
)HOL]PHPyULDGRSULPHLUR6,0
2OKDDFULDQoDRMRYHPVHXIXWXUR
0XQGRLQVHJXURDJXDUGDPVXDVPmRV
9LGDVVHPHQWHVTXHVHFXOWLYDGDV
'HVDEURFKDGDVEHODVIORULUmR
%HQGLWRRMRYHPVHU
4XHEXVFDQRVDEHU
6HXEHPYLYHU
2OKDDPXOKHURVROpGDIDPtOLD
3RLVQHODEULOKDDOX]GRWHXROKDU
)RQWHGDYLGDiJXDFULVWDOLQD
3pVIHPLQLQRVVHPSUHDFDPLQKDU
%HQGLWDDPXOKHU
0DWHUQRHWHUQRVHU
eRVHXYLYHU
2OKDHVWDSRYRGHROKDUWmRWULVWH
0DVTXHUHVLVWHjGRUjRSUHVVmR
)LOKRVGH'HXVWHPRVGLUHLWRjYLGD
%HQVVHPPHGLGDSDUDWRGRVVmR
%HQGLWRRSRYRPHX
3UDVHUIHOL]QDVFHX
(WHURFpX
0DLVFRUDomRQDVPmRV&'H'9'GRPHVPRQRPH3URYtQFLD&DPLOLDQDGR%UDVLO
/HWUDHP~VLFD,U0LULD7.ROOLQJ
'
(
$P
D E M
N
N N
N
M
A
A AA
4XDQ GR
VH WHP
R FR UD omR
QDV
PmRV
HBR VHU HP
'HXV
LQ WHL URB$
*P
&
&
&
%
)
D
P
N N
N A N
N
N
PRU
TXH
D PD
TXHP
VR IUHBL PHU VRBHP GRU
WR GD VXD YL GD
VH
ID]
D
(P
)
%
$
M
N
M
N
N
)R[
P
D
N N
N
N
N
N
t GRV
QRV PLO FD PL QKRV GR
YL YHU
VHX
GL DBLU
UD GL D
XP
'
*
&
)
D Y M
N
N
N
N
N N A A N A,L
N -
A
N
N
N
N Refro:
N N N N
QR YRBD PD QKH FHU D PD QKH FHU
N 1mR EDV WDBD SH QDV QRV VR N
N
N
N
N N 0DLV FR UD N omR QDV PmRV
N A L
N AM
- A A A A N
N
N
N
N
N
,
D
N
N
N!
N
N
NN N
$
*P
&
'P
*
K
D
, L
, N L
N
N A A, A N A- A A A A A A N L
,
N
N
N
N
N
N
EHP ID ]HU
FXL GD GRBH [L JH FRP SDV VL YR VHU
FR
D GRU
GR QRV VRBLU PmR
N
N
N N
N N
N L
L
N
M
P
N D A A N
L
N
N
L
,
- N , , N P , N N
N ! D N
D
D
)
%P
%
$P
L
- L
M
N D D N D ,
N
N
N
N
N [mR QDV PmRV N HLV R UH Pp GLR H IL N FD] PH OKRU N
0DLV FRP SDL
N A AL
N
A A N L
N
N
N , N D- N
N
NN
D
N
,
N!
N
N
D
D
'
&
%
%P
)
*
L
- N L
N
, N A A N , D N A A
N
N
N
N
N
D
WH UD SL D
GR PD WHU QRBD PRU
0DLV FR UD omR QDV PmRV QDV PmRV
N
N N N N
AM
N
N
D N L
A A A N P L
N
,
-
N! D
N N ,
N
N
GRP
'P
H TXDO
VD PD UL WD QR
*P
ERP
&
FX UDBDV
(
IH UL
GDV
GHBLU PmRV FD
$P
4XDQGRVHWHPRFRUDomRQDVPmRV
(RVHUHP'HXVLQWHLUR$PRUTXHDPD
4XHPVRIUHLPHUVRHPGRU
7RGDVXDYLGDVHID]GRP
(TXDO6DPDULWDQRERP
&XUDDVIHULGDVGHLUPmRVFDtGRV
1RVPLOFDPLQKRVGRYLYHU
6HXGLDLUUDGLD
8PQRYRDPDQKHFHUDPDQKHFHU
5HIUmR
0DLVFRUDomRQDVPmRV
1mREDVWDDSHQDVQRVVREHPID]HU
&XLGDGRH[LJHFRPSDVVLYRVHU
&RDGRUGRQRVVRLUPmR
0DLVFRPSDL[mRQDVPmRV
(LVRUHPpGLRHILFD]PHOKRU
$WHUDSLDGRPDWHUQRDPRU
0DLVFRUDomRQDVPmRV
4XDQGRVHYLYHDFDULGDGHRDPRU
%XVFDQGRVHUFRPR-HVXVR0HVWUH
7HUQXUDHFRPSDL[mR
7RUQDVHRPXQGRXPMDUGLP
&HOHVWHSDUDtVRHQILP
(QRFXLGDGRGRLUPmRDPDGR
eRFRUDomRTXHHVWiQDVPmRV
1mRYHQoDDGRHQoD
'HXVTXHUYLGDIHOL]YLGDIHOL]
4XDQGRR(YDQJHOKRVHID]YLGDHPQyV
1RVVDPLVVmRVHUYLUFXLGDUVHWRUQD
'LYLQDGRDomR
3UHVHQoDDOHJUHGR6HQKRU
6XSUHPRGRPREHPPDLRU
(GLVSRQtYHLVjGRUVHQVtYHLV
'DPRVDRPXQGRQRYRROKDU
1DJUDoDTXHDEUDoD
&RPDVPmRVRFRUDomRRFRUDomR
1DGDIDORQDGDVRX5HIUmRRUDQWH
*
*
A NN ] AL
A N AL
A N AL
N A
ID OR
Vy HV FX WR
p WmR
GR FH
WX D
YR]
0HX GH
GLP1D GD
*
$P
'
N P N
N L
%DODGDOHQWD
2VZDOGR-6DQWRV
'
*GLP
N
N
VH MRBpBHV WDU
VHP SUH
FRQ
WL JR
$ JUD
GH
oR
QD GD
WH
QKRBD WH
SH
$P
*
*
'
N
A ]
GH oR
QD GD
WH
QKRBD WH
SH GLU
1D GD
PRU
GLU
0HX
GH
VH
MRBpBHV
WDU
VHP SUH
FRQ
WL
JR
$ JUD
1DGDIDORVyHVFXWRpWmRGRFH7XDYR]
0HXGHVHMRpHVWDUVHPSUH&RQWLJR
$JUDGHoRQDGDWHQKRD7HSHGLUELV
1DGDSRVVRQDGDWHQKRQDGDVHLQDGDVRX
6yQmRSRGHPHIDOWDU7XDJUDoD
(XQmRSRVVRPDLVYLYHUVHP7HXDPRUELV
7HPVHHVWLPXODGRHPQRVVDVLJUHMDVRUHIUmREtEOLFRRUDQWHTXHSRGHVHUHQWRDGRSRUXPVROLVWDRXJUXSRGHFDQWR
HQYROYHQGRDRVSRXFRVWRGDDDVVHPEOHLDQXPFOLPDRUDQWHEURWDGRGRVLOrQFLR(PERUDVHMDPIDFXOWDWLYRVHVVHV
UHIUmRVIDYRUHFHPRVLOrQFLRRUHFROKLPHQWRHDLQWHULRUL]DomR(TXLOtEULRERPVHQVRVHQVLELOLGDGHVmRVHPSUHR
PHOKRUFDPLQKRSDUDGRVDUFDQWRHVLOrQFLROHYDQGRDDVVHPEOHLDDRHQFRQWURjHVFXWDHjLQWLPLGDGHFRP'HXV
0LQKDIp
$QRGD)pHQWUHRXWXEURGHHQRYHPEURGHDVVLPSURFODPDGRSRU%HQWR;9,
D D D
AA A N L
A N L
P A N
A
AA A N L
A
5HIUmR 0L QKD
Ip
p PH QRU
TXHBXP
JUmR GHBD UHL D
QmR UH
&P
*
DD
L
N L
N L
N
N
PR YH
X PD
IR OKD
QmR ED ODQ oD
X PD
IORU
&P
&
)P
%GLP
D D D , L
N L
N
N
N
N
&P
0DULD6DUGHPEHUJ
*
&P
DD &P &
P
P
D
N L
N
L
N L
N A A N N P
PL QD
p PDL RU
TXH
PL QKD GRU
0LQKD Ip
TXH QmR
*
* 'P
N L
N L
N L
N L
N
L
PR YH X PD PRQ WD QKD
PR YHBR PXQ GR
QXP VH JXQ GR
QXP LQV WDQ WH
GHBR UD
&
&
)
*
&
L
N
N L
N
A N
N
omR
0L QKD Ip
TXH p
IUD FD
WmR VR
IUL GD
p PDL
*
)P
&
*
&
D D D
, D L
N
L
N
N N
NN
0HV PRBD VLP
PL QKD
Ip
WmR
SH TXH
*
QL QD
*
pBX PD
RU
GR TXH PL QKD
YL GD
p PHX
DU
PL
)P
*
'
*
&P )P &
&P
DD )P &P
P
L
P
N
L
N
N
N
N N
N
)LQDO
1LQ JXpP SR GH WL
UDU
5HIUmR
0LQKDIppPHQRUTXHXPJUmRGHDUHLD
1mRUHPRYHXPDIROKDQmREDODQoDXPDIORU
0HVPRDVVLPPLQKHIpWmRSHTXHQLQD
eXPDOX]TXHPHLOXPLQD
ePDLRUTXHPLQKDGRU
0LQKDIpTXHQmRPRYHXPDPRQWDQKD
0RYHRPXQGRQXPVHJXQGR
1XPLQVWDQWHGHRUDomR
0LQKDIpTXHpIUDFDWmRVRIULGD
ePDLRUGRTXHPLQKDYLGD
ePHXDUPLQKDFDQomR
D PL QKD D
PL QKD
Ip
3DUDILQDOL]DUDSyVRUHIUmR
1LQJXpPSRGHWLUDU
1LQJXpPSRGHURXEDU
$PLQKDDPLQKDIp
0LQKDIpp'HXV3DLVHMDORXYDGR
e-HVXVUHVVXVFLWDGR
eR(VStULWRGRDPRU
0LQKDIpp0DULD,PDFXODGD
$PLQK
DOPDDMRHOKDGD
1XPDHQWUHJDVHPWHPRU
&KRUDUGHDPRU 'HVSHGLGDGH0DSXWRFDSLWDOGH0RoDPELTXHQDVFLGRQDPDGUXJDGDGHGHPDLRGH
/HWUDHP~VLFD,U0LULD7.ROOLQJ
$
'
'
$
*
E L
L
, N
A N A AL
A A N YY
N
] , N
N
A A,
N
N
N
N
N
9RX
VHQ WLU
UD omR TXH
VDX GD GH
YRX
FKR UDU GHBD PRU
FR
N
0DV QRV VDBD PL N ]D GH N OH YRBD RQ GHBHX IRU
N
N 9L GD VH ID] N
A A N
A N A N N
N
L
N
L
L
Y
, N
NN ! E ] , NN
NN , NN Y
NN
N
(P
$
$
'
' %P (
N ] L
N N N
N L
N
,
A
A A, A A
AA AA
A
A
N
N N N
N
N
IL
FD
FR UD omR
TXH
SDU WH
TXDQ GR VH
UH
SDU WH
N
NN
N
N
N
UL FD
N N
N L
N
N N L
,
,
]
N
N N N
N ! N
*
*P
'
%P
'
N N A N YY N N
N
N
N
N
N
N
N
'HV SH GL GD GyL QD
DO PD
QRV VDV YL GDV YmR
H
YrP
0DV RBD EUDoR
QRV D
N P N
N
A A A A A N N D N
P
A
N N N N YY N
N
N N
N
N
N! N
$
'
(P
N N Y 9RXVHQWLUVDXGDGHYRXFKRUDUGHDPRU
N
&RUDomRTXHILFDFRUDomRTXHSDUWH
AA AA A A A A
AAY
0DVQRVVDDPL]DGHOHYRDRQGHHXIRU
N
N
N
9LGDVHID]ULFDTXDQGRVHUHSDUWH
EHP
FDO PD
LU
PmR WH TXH UR
N
N
N PHX
0L QKDBLU Pm
'HVSHGLGDGyLQDDOPD
N N N Y 1RVVDVYLGDVYmRHYrP
N ! N N Y 0DVRDEUDoRQRVDFDOPD
0HXLUPmRPLQKDLUPmWHTXHUREHP
&DQomR
6XVWHQWDLFRPDUWHDORXYDomR6DOPR
N N
N
N N N A N N N
6XV WHQ WDL FRP
DU WHBD ORX YD
omR
VXV WHQ WDL
VXV WHQ WDL
6XVWHQ
%
$
*GLP
'$
(
'
*
N
N
N N N L
N A N
N
WDL FRP DU WHBD ORX YD omR FRP
DU WH
VXV WHQ WDL
VXV WHQ WDL
FRP
* '
6XVWHQWDLFRPDUWHDORXYDomRVXVWHQWDLVXVWHQWDL
6XVWHQWDLFRPDUWHDORXYDomRFRPDUWH
N N
N
6XVWHQWDLVXVWHQWDLFRPDUWHDORXYDomR
'
$
%P
DU
,U0LULD7.ROOLQJ
$
(P
'
/LYUR6XVWHQWDLFRPDUWHDORXYDomR$YH0DULD
$QLPDomR
26HQKRUIH]XPDP~VLFD
5HFROKLGRSRU0LOWRQ6RDUHV52
5HJLVWUDGRHPSDUWLWXUDSRU,U0LULD7.ROOLQJ
'
'
*
'
]
N
L
N A N
N
]
5HIUmR 2 6H QKRU IH] X PD
MRV GDQ oDU
(
DQ
2 6H oDU
P~ VL FD SURV
*
$
'
'
'
' %P
] N N N N
] N N A N L
%D WH D
GDQ oD ED ODQ oDU
WR GRV TXH UL DP HV WD
PmR
(
oDU
*
)P
'
'
%P
$ '
N
N ] N N N L
]
A
ED WH R Sp
( p
(
WR GRV SHUJXQ WD YDP PHX 6H QKRU FR PRBp TXH p
) P
%P
$ ' $ '
N N N
N L
N
N L
]
L
A N ] L
GDQ oD D FRQ WH oD
WH oD
0mRV
*
QD FLQ
WX UD
'
PmRV
'
FD EH oD
QD
5HIUmR
26HQKRUIH]XPDP~VLFDSURVDQMRVGDQoDUELV
(WRGRVTXHULDPHVWDGDQoDEDODQoDUELV
%DWHDPmREDWHRSp
(WRGRVSHUJXQWDYDPDR6HQKRUFRPRpTXHpELV
0mRVQDFLQWXUDPmRVQDFDEHoD
&RPRpTXHR6HQKRUTXHUTXHHVWDGDQoDDFRQWHoD"
FR PR
TXHU TXH HV WD
0mRVQRMRHOKRPmRVQDRUHOKD
&RPRpTXHR6HQKRUTXHUTXHHVWDGDQoDDFRQWHoD"
0mRVLQYHQWDURXWUDVSDUWHVGRFRUSRPmRVQD
FRVWDVSDUDRDOWRSDUDEDL[R
%RPpPXLWRERP
(P
(P % % $P
, N N N
N
N
N N
]
]
5HFROKLGRSRU,U0LULDQR5LRGH-DQHLURFRP0DULD,QrV
N N L
L
N N
%RP
SD UD
ERP
%
ERP
PR YL PHQ WDU
(VSpFLHGHJLQiVWLFDFDQWDGDPRYLPHQWDQGRDV
SDUWHVGRFRUSRDRULWPRGDP~VLFDXVDQGRD
FULDWLYLGDGH
%RPERPERPpPXLWRERPELV
%RPPHVPRpPRYLPHQWDUSDUDQmRHQIHUUXMDU
&G&DQWDUEULQFDQGREULQFDUFDQWDQGR3DXOXV
4XHEHORROKLQKR
)
&
&
5HIUmR$IRUPLJXLQKDVREHQDHVSLJD
4XHEHORROKLQKRWHPDIRUPLJXLQKD
)
4XHEHORROKmRWHPRIRUPLJmR
4XHEHODERTXLQKDWHPDIRUPLJXLQKD
4XHEHORERFmRWHPRIRUPLJmR
4XHEHORSH]LQKR
4XHEHORFRUSLQKR
7LUDXPJUmR]LQKRHSORIWQRFKmR
)
%D
'RUpPLIi
)
&
9LYDRSRYRTXHVDEHFDQWDU
2FDQWRDSyVR&RQFtOLR9DWLFDQR,,
,U0LULD7.ROOLQJ
)RLH[DWDPHQWHQRGHVHMRGHYROWDjVIRQWHVYLVDQGRDSDUWLFLSDomRDWLYDHFRQVFLHQWHGRSRYR
QDOLWXUJLDTXHVHUHDOL]RXR&RQFtOLR9DWLFDQR,,SUHFHGLGRSHOR0RYLPHQWR%tEOLFRH/LW~UJLFRDSyV
ORQJRSHUtRGRHPTXHDP~VLFDVHUHGX]LXDRFDQWRJUHJRULDQRHjSROLIRQLDVDFUDVLOHQFLDQGRRFDQWR
GRSRYR
$FRQWHFHX HQWmR R &RQFtOLR 9DWLFDQR ,, XP 1RYR 3HQWHFRVWHV LQVSLUDGR SHOR (VStULWR
6DQWR DR ERQGRVR 3DSD -RmR ;;,,, HP (OH WURX[H j OX] D 6DFURVDQFWXP &RQFLOLXP
&RQVWLWXLomR VREUH D 6DJUDGD /LWXUJLD SULPHLUR GRFXPHQWR FRQFLOLDU FXMR SRQWR GH SDUWLGD Mi QmR p D
P~VLFDVDFUDPDVRPLVWpULRGDVDOYDomRFHOHEUDGRSHOD,JUHMDFRPRXPDFRQWHFLPHQWRYLYRTXHVDQWLILFDRVKRPHQVH
FRQWULEXLSDUDRFXOWRTXHVHSUHVWDDR3DL$/LWXUJLDGD,JUHMD7HRORJLD+LVWyULD(VSLULWXDOLGDGHH3DVWRUDOGH
-XOLiQ/ySH]0DUWtQ3DXOLQDV(GLWRUD2SRQWRFXOPLQDQWHGDKLVWyULDGDVDOYDomRHSRLVRFHQWURGD
YLGDHGDOLWXUJLDFULVWmpR0LVWpULR3DVFDOGH-HVXV&ULVWRVXDYLGDSDL[mRPRUWHHUHVVXUUHLomRGH
RQGHQDVFHXD,JUHMDFRPXQLGDGHGRVTXHFHOHEUDPHVVD3iVFRD1RVVDUHIHUrQFLDSRLVpD/LWXUJLDGH
&ULVWR TXH SUHVWRX R FXOWR SHUIHLWR DR 3DL $VVLP R FDQWR H D P~VLFD Mi QmR VmR WLGRV FRPR DOJR
DFHVVyULRRXDXW{QRPRPDVSDUWHLQWHJUDQWHGDOLWXUJLDDVHUYLoRGD3DODYUDGHYHQGRFRUUHVSRQGHU
DRVGLYHUVRVULWRVHDRFRQWH~GRGDFHOHEUDomR'HQRPLQDGRVP~VLFDOLW~UJLFDRXP~VLFDULWXDOSUHFLVDP
WHUFHUWDVTXDOLGDGHVSDUDVHUYLUHPDRFXOWRFULVWmRDGDSWDQGRVHjILQDOLGDGHGDOLWXUJLDTXHpDJOyULD
GH'HXVHDVDQWLILFDomRGRVILpLV
$IXQomRGRFDQWROLW~UJLFRSRGHVHUDVVLPUHVXPLGD
D 2 FDQWR H D P~VLFD WrP XPD IXQomR VDFUDPHQWDO VmR YHUGDGHLUR VLQDO GD SUHVHQoD H DomR GR
(VStULWR6DQWRJHVWRYLYRH[SHULrQFLDHH[SUHVVmRGDYLGDTXHLQWLPDPHQWHOLJDGRVjDomROLW~UJLFDVmR
SDUWHHVVHQFLDOGDOLWXUJLDHQmRPHURRUQDPHQWRH[WHUQR
E7rPWDPEpPXPDIXQomRPLQLVWHULDOHULWXDOHVWDQGRDVHUYLoRGRPLVWpULRFHOHEUDGRHGRVGLYHUVRV
ULWRV SRUWDQWR VXERUGLQDGRV j OLWXUJLD H QmR DXW{QRPRV R TXH IDYRUHFH WDPEpP D FRPXQKmR H D
XQLGDGHGDDVVHPEOHLD
F 2 FDQWR H D P~VLFD QmR VmR SULYLOpJLR GH XPDV SRXFDV SHVVRDV TXH SURGX]HP RX H[HFXWDP RV
FDQWRVPDVH[SUHVVmRGDDOPDGHXPSRYRGHYHQGRIDYRUHFHUDSDUWLFLSDomRDWLYDHFRQVFLHQWHSOHQD
HIUXWXRVDGHWRGDDDVVHPEOHLD
G ([SUHVVDP PHOKRU D RUDomR WRUQDQGRD PDLV VXDYH HORTXHQWH H SHQHWUDQWH VROHQL]DP H
HQULTXHFHPWDPEpPDOLWXUJLDHQYROYHQGRWRGDDDVVHPEOHLDJHUDQGRDOHJULDHIHVWD
H 7H[WR H PHORGLD IRUPDP XPD XQLGDGH LQVHSDUiYHO VmR H[SUHVVmR GD DOPD RUDQWH H QRV DMXGDP D
FDQWDUDOLWXUJLD&RPSULPD]LDGRWH[WRVREUHDPHORGLDGHFRQWH~GREtEOLFRHOLW~UJLFRWHQKDEHOH]D
SRpWLFDHTXDOLGDGHDUWtVWLFDVHMDVLPSOHVPDVGLJQRHH[SUHVVHDIpGDFRPXQLGDGH
2 (VWXGR GD &1%% $ 0~VLFD OLW~UJLFD QR %UDVLO 3DXOXV p VXEVtGLR UHIHUHQFLDO DRV
PLQLVWURV GD P~VLFD H GR FDQWR OLW~UJLFRDPSOLD QRVVRV KRUL]RQWHV Gi IXQGDPHQWR H FRQVLVWrQFLDDR
QRVVR PLQLVWpULR OLW~UJLFRPXVLFDO QRV RIHUHFH FULWpULRV H RULHQWDo}HV SUiWLFDV SDUD D FHOHEUDomR
EDVHDGRVQDWUDGLomRGD,JUHMDHQDVH[SHULrQFLDVOLW~UJLFDVGRSDVVDGR
7HPD LQHVJRWiYHO FDPLQKR DEHUWR IHLWR GH H[SHULrQFLDV SRVLWLYDV PDV WDPEpP FDUUHJDGR GH
GHVDILRV H GLILFXOGDGHV D VXSHUDU 2 FHUWR p TXH D OLWXUJLD WHP QHFHVVLGDGH GR FDQWR TXH p GH
IXQGDPHQWDO LPSRUWkQFLD R TXH VXS}H PLQLVWURV FRPSHWHQWHV FRP IRUPDomR WpFQLFD PXVLFDO H
WDPEpPOLW~UJLFDPDVVREUHWXGRFRPSURPLVVRHVSLULWXDOHYLYrQFLDFULVWm
&HOHEUDU FDQWDQGR D QRVVD Ip QRV WRUQD XQLGRV QR DPRU QRV ID] DOHJUHV QR 6HQKRU QRV
FRPSURPHWHQDFRQVWUXomRGHXPPXQGRQRYRDQWHFLSDQGRMiQDWHUUDRORXYRUSXURGRFpX
5HWRPDUHVWXGDUHDSURIXQGDUD&RQVWLWXLomR6DFURVDQFWXP&RQFLOLXPpXPGHYHUGHWRGRV
RVPLQLVWURVHHTXLSHVGHOLWXUJLDGDTXDOID]HPSDUWHRVP~VLFRVHFDQWRUHV
7DPEpP'RP'HPpWULR9DOHQWLQLELVSRGH-DOHVHSUHVHQWHDR&RQFLOLR9DWLFDQR,,HVFUHYHX
LQWHUHVVDQWHOLYURLQWLWXODGR 5HYLVLWDUR&RQFLOLR9DWLFDQR,,(GLo}HV3DXOLQDV6mR3DXOR
TXH SRGH LOXPLQDU QRVVD FDPLQKDGD HFOHVLDO ID]HQGRQRV FRPSUHHQGHU PHOKRU H YLYHU QRVVDV
FHOHEUDo}HVHPWRUQRGDPHVDGD3DODYUDHGDPHVDGR3mRFRPDSDUWLFLSDomRGHWRGDDDVVHPEOHLD
2VPLQLVWURVGR&DQWRHGD0~VLFD
,U0LULD7.ROOLQJ
2FDQWRFRPRSDUWHLQWHJUDQWHHQHFHVViULDGDOLWXUJLDQmRpSULYLOpJLRGHXPFDQWRUGHXPSHTXHQR
JUXSR GH FDQWRUHV RX GR FRUDO PDV GHYH HVWDU D VHUYLoR GR ORXYRU GH WRGR XP SRYR IDYRUHFHQGR D
SDUWLFLSDomRGHWRGDDDVVHPEOHLDFHOHEUDQWH$(XFDULVWLDpDIHVWDGDFRPXQLGDGHIUDWHUQDVRPRVWRGRV
LUPmRVHP&ULVWRHRUJDQL]DGDVRPRVRFRUSRGH&ULVWRD,JUHMDRQGHFDGDXPWHPDVXDIXQomRH
GHYHFRORFDUVHXGRPDVHUYLoRGDFRPXQLGDGH1RFDVRGRFDQWRHGDP~VLFDpSUHFLVRTXHKDMDJHQWH
SUHSDUDGD OLW~UJLFD H PXVLFDOPHQWH SDUD RULHQWDU HVFROKHU H GLULJLU R FDQWR GD FRPXQLGDGH HP IHVWD
UHXQLGDHPQRPHGR6HQKRU2VGRFXPHQWRVGD,JUHMDHOLYURVGH/LWXUJLDDERUGDPRLPSRUWDQWHWHPD
$DVVHPEOHLDpRPLQLVWURSULQFLSDOGDP~VLFDHGRFDQWROLW~UJLFRHVREUHVXDSDUWLFLSDomRGL]
D,QVWUXomR0XVLFDP6DFUDP061DGDPDLVIHVWLYRHPDLVJUDWRQDVFHOHEUDo}HVVDJUDGDV
GRTXHXPDDVVHPEOHLDTXHHPVHXFRQMXQWRH[SULPHVXDIpHVXDSLHGDGHSRUPHLRGRFDQWR
$ FHOHEUDomR DVVXPH VXD YHUGDGHLUD LPDJHP D FRPXQLGDGH PRVWUD R VHX YHUGDGHLUR URVWR
TXDQGR WRGRV FDQWDP MXQWRV FRPR VLQDO GD DVVHPEOHLD XQLYHUVDO H GHILQLWLYD TXH FDQWD JOyULD
KRQUDHORXYRUDR&RUGHLUR0DLVTXHREULJDomRpJUDoDHVVDSDUWLFLSDomRGHWRGRVDXPDVy
YR]HQXPVyFRUDomR$OLWXUJLDQmRpVKRZQHPHVSHWiFXORRQGHDOJXQVVHDSUHVHQWDPHRV
GHPDLV VmR PHURV HVSHFWDGRUHV 3RUWDQWR OHYHPVH HP FRQWD DV SHVVRDV FRQFUHWDV TXH
SDUWLFLSDP
2 GLULJHQWH RX DQLPDGRU GH FDQWR 'L] R GRFXPHQWR TXH e FRQYHQLHQWH TXH KDMD XP
FDQWRURXXPGLUHWRUGRFRURTXHVHHQFDUUHJXHGHGLULJLUHPDQWHURFDQWRGRSRYR0DLVDLQGD
TXDQGRQmRKiFRURFDEHUiDXPFDQWRUGLULJLURVGLYHUVRVFDQWRVSDUWLFLSDQGRRSRYRGDTXLOR
TXHOKHFDEH2*056XDIXQomRpSRLVGLULJLURFDQWRGRSRYRHFRQVHJXLUTXHWRGRVVH
VLQWDP PRWLYDGRV D SDUWLFLSDU 'HYH WHU FDSDFLGDGH GH FRPXQLFDomR ID]HU YLEUDU WRGD D
DVVHPEOHLD VHU DILQDGR H WHU XP ERP YROXPH GH YR] DOpP GD H[SUHVVmR FRUSRUDO JHVWRV
SRVWXUDGLDQWHGDFRPXQLGDGHVDEHUXVDURPLFURIRQHILFDUQXPOXJDUYLVtYHOPDVGLVFUHWR
QmR FKDPDQGR D DWHQomR VREUH VL PHVPR SRLV VH WUDWD GH DQLPDU D FHOHEUDomR OLW~UJLFD H QmR
XPDIHVWDTXDOTXHU1mREDVWDERDYRQWDGHPDVpSUHFLVRGRPHSUHSDURSDUDHVWHLPSRUWDQWH
PLQLVWpULR
2JUXSRGHFDQWRUHVeERPTXHKDMDXPJUXSRGHFDQWRUHVSDUDVXVWHQWDURFDQWRGRSRYRH
DOWHUQDUFRPHOHSRUpPVHPMDPDLVH[FOXLUDFRPXQLGDGHVREUHWXGRQRVFDQWRVDHODGHVWLQDGRV
RFDQWRGHHQWUDGDR*OyULDRUHIUmRGR6DOPRDVUHVSRVWDVHDFODPDo}HVR6DQWRR3DL1RVVR
R&RUGHLURGH'HXVHRXWURV2VFDQWRVGHYHPVHUHVFROKLGRVHPIXQomRGDOLWXUJLDHQmRDEHO
SUD]HU SRUTXH R JUXSR JRVWD SRUTXH VmR ERQLWRV PDV VHP WHU QDGD D YHU FRP R PLVWpULR
FHOHEUDGR&DEH DR GLULJHQWH GR FDQWR FRP VHX JUXSR GH FDQWRUHV HP XQLmR FRP D HTXLSH GH
OLWXUJLD HVFROKHU RV FDQWRV TXH PHOKRU H[SUHVVHP FDGD PRPHQWR GD &HOHEUDomR H VHMDP
FRPSUHHQGLGRVSHORSRYR
2VLQVWUXPHQWLVWDV2VLQVWUXPHQWRVFRPRSURORQJDPHQWRGDYR]KXPDQDQmRVmRVDFURV
QHP SURIDQRV 6HX XVR YDL GHSHQGHU GR FRQWH[WR HP TXH VH LQVHUHP GD FXOWXUD GR SRYR GR
PRGR FRPR VmR XVDGRV (P SULQFtSLR WRGRV RV LQVWUXPHQWRV VmR EHPYLQGRV QD OLWXUJLD PDV
GHYHPHVWDUDVHUYLoRGDYR]GRWH[WRGDSDODYUDGDQGROKHVXSRUWHVHPHQFREULURXDEDIiOD
e D YR] KXPDQD TXH FDQWD VXSOLFD FKRUD VH DOHJUD H ORXYD D 'HXV SRU LVVR D P~VLFD YRFDO p
PDLVLPSRUWDQWHQDOLWXUJLDTXHDLQVWUXPHQWDO0DVXPERPLQVWUXPHQWLVWDDMXGDDVXVWHQWDUR
FDQWRFULDQGRFOLPDGHRUDomRHPHGLWDomRDFRPSDQKDQGRRFDQWRVHPMDPDLVVHVREUHSRUjV
YR]HV
2DVDOPLVWDpRFDQWRUGRVDOPRUHVSRQVRULDODSyVDSULPHLUDOHLWXUDVDOPRTXHID]SDUWH
LQWHJUDQWH GD /LWXUJLD GD 3DODYUD H SRUWDQWR QmR GHYH VHU VXEVWLWXtGR SRU XP RXWUR FDQWR
TXDOTXHU2VDOPLVWDSURS}HRUHIUmRGRVDOPRDRSRYRHVWHRUHSHWHDSyVFDGDHVWURIHTXHHOH
FDQWDVR]LQKRHDDVVHPEOHLDHVFXWDeXPSURFODPDUFDQWDGRGDOHLWXUDSRULVVRRVDOPLVWDGHYH
WHUXPDERDYR]DOpPGDDWLWXGHRUDQWHSDUDTXHVHMDGHIDWRUHVSRVWDjSURSRVWDGH'HXV6HMD
SURFODPDGRGRDPEmRRXPHVDGD3DODYUD
8QLGDGHGDDVVHPEOHLDQDGLYHUVLGDGHGRVVHUYLoRVHPLQLVWpULRV
/LWXUJLD3DVFDOHP0RoDPELTXHXPDH[SHULrQFLDGHYLGD
2V'RPLQJRVGD3iVFRDTXHVHVHJXHPDR'RPLQJRGD5HVVXUUHLomRVmRGHIHVWDHDOHJULDFRPR
VHIRVVHPXPVyJUDQGHGRPLQJRSURORQJDQGRSRUFLQTHQWDGLDVDFHOHEUDomRGR0LVWpULR3DVFDOID]HQGR
QRVVDERUHDUWRGDDULTXH]DGDYLGDHREUDVDOYDGRUDDQyVRIHUHFLGDSHOR&ULVWRPRUWRHUHVVXVFLWDGR
2 7HPSR 3DVFDO p GH H[XOWDomR H M~ELOR H[SUHVVR QR$OHOXLD WULXQIDOPHQWH FDQWDGR FRPR D
DQWHFLSDU DV IHVWDV GR FpX D SiVFRD HWHUQD $ ,JUHMDGH 0RoDPELTXH DSURYHLWDHVVH WHPSR SDUD PLQLVWUDURV
6DFUDPHQWRV GD ,QLFLDomR &ULVWm VREUHWXGR QDV FRPXQLGDGHV GR LQWHULRU RQGH D &HOHEUDomR (XFDUtVWLFD
DFRQWHFHUDUDPHQWHDRORQJRGRDQRHRSRYRID]D&HOHEUDomRGD3DODYUD
)RL XPD H[SHULrQFLD GDV PDLV IRUWHV H VLJQLILFDWLYDV SDUD PLP D JUDoD GH SDUWLFLSDU GD &HOHEUDomR
(XFDUtVWLFD FRP D UHDOL]DomR GRV 6DFUDPHQWRV (VWDYD HX HP 0LFDQH GLVWULWR GH 0RPD $UTXLGLRFHVH GH
1DPSXOD(UDRGLDGHPDLR,9'RPLQJRGD3iVFRDHPTXHD,JUHMDFHOHEUDR%RP3DVWRUFRQIRUPHR
HYDQJHOKRGH-RmR-R0DQLTXHODIRLRSRYRDGRHVFROKLGRSHODVGLYHUVDVFRPXQLGDGHVYL]LQKDVSDUD
VH FRQFHQWUDUHP H Dt FHOHEUDUHP RV VDFUDPHQWRV GR %DWLVPR GD (XFDULVWLD H GR 0DWULP{QLR GH FDVDLV
0XLWRVTXHSHUWHQFHPjVUHOLJL}HVWUDGLFLRQDLVDIULFDQDVVmRPXoXOPDQRVRXGHRXWUDVUHOLJL}HVVHFRQYHUWHP
DRFULVWLDQLVPRMiDGXOWRVGDtUHFHEHUHPRV6DFUDPHQWRVGD,QLFLDomRDSyVORQJDSUHSDUDomR
'HVGHRViEDGRHVWDYDPUHXQLGRVRVFDWHF~PHQRVHSDGULQKRVHPUHWLURHSUHSDUDomRSDUDRJUDQGH
GLD&RPDSUHVHQoDGRMRYHP3H5RGULJR6FKOHUGD,JUHMDLUPmGH3RUWR$OHJUH56PLVVLRQiULRHP0RPD
TXH WDPEpP SUHVLGLX D (XFDULVWLD QR GRPLQJR SHOD PDQKm R FOLPD HUD GH DOHJUH H[SHFWDWLYD SRLV DOJR
PDUFDQWHHJUDQGLRVR~QLFRHGHFLVLYRHVWDYDSRUDFRQWHFHU
2ORFDOGDFHOHEUDomR"8PDIURQGRVDiUYRUHTXHQRVVHUYLXGHFDWHGUDOSRUFHUFDGHKRUDVFRPXP
HVSDoR LQILQLWR VH DODUJDQGR SDUD DEUDoDU RV KRPHQV H DV PXOKHUHV RV MRYHQV H DV FULDQoDV TXH WHQGR
SHUFRUULGRTXLO{PHWURVDSpFKHJDYDPHPIHVWDFRPVXDVURXSDVFRORULGDVHYLVWRVDV7RGRVWRPDYDPVHXV
OXJDUHV QR FKmR ODGR D ODGR FRPR GH FRVWXPH j VRPEUD GD DFROKHGRUD PDQJXHLUD HQTXDQWR RV FDQWRUHV H
WRFDGRUHVFULDYDPFOLPDGHFHOHEUDomR(UDPHVPRUHDOTXHHXHVWDYDDOL"7RPDUFRQVFLrQFLDGHPHHQFRQWUDU
HPWHUUDPRoDPELFDQDGHEDL[RGDTXHODH[XEHUDQWHHYHUGHFDWHGUDOXQLGDjTXHOHSRYRGHFRUDomRSXURD
FHOHEUDUVXDIpHRVDFRQWHFLPHQWRVGDYLGDPHHPRFLRQRXjVOiJULPDV
,PSRVVtYHOGHVFUHYHURULWPRGD&HOHEUDomRHPVHXVYiULRVPRPHQWRVFHOHEUDWLYRV(PHVPRID]HQGR
DH[SHULrQFLDR0LVWpULRFRQWLQXDPDLRUHDOpPGRTXHSRVVDPRXVDUDVSDODYUDV0HUHFHGHVWDTXHRFRUSR
GHGDQoDULQDVVHPSUHSUHVHQWHVQDVFHOHEUDo}HVVROHQHVHIHVWLYDVHFXMDGDQoDULWXDOFRQVWLWXLXPYHUGDGHLUR
PLQLVWpULR e XPD WDO KDUPRQLD GH JHVWRV FRP PRYLPHQWRV JUDFLRVRV H GHOLFDGRV H[SULPLQGR R HVStULWR GD
FHOHEUDomRDFRPSDQKDQGRRVGLYHUVRVULWRVTXHWRGRVVHVHQWHPHQYROYLGRVHSDUWLFLSDQWHVGDOLWXUJLDSHOD
HVFXWDGD3DODYUDHDRUDomRSHORRFDQWRHDGDQoD(GHIRUPDWmRQDWXUDO
'RLVPRPHQWRVPXLWRVLJQLILFDWLYRVR%DWLVPRTXDQGRFDGDHOHLWRIRLFRQGX]LGRSHORVSDGULQKRV
jSRUWDSUy[LPDDRDOWDUIHLWDGHIROKDVGHFRTXHLURHPIRUPDGHDUFRSDUDVHUHPDOLEDWL]DGRVHGHSRLVD
DWUDYHVVDUHPLQWURGX]LGRVQDIDPtOLDGH'HXV1RHYDQJHOKRGDTXHOHGRPLQJR-HVXVDILUPDYD(XVRXDSRUWD
GDV RYHOKDV 4XHP HQWUDU SRU PLP VHUi VDOYR HQWUDUi H VDLUi H HQFRQWUDUi SDVWDJHP -R 3RGHULD
KDYHU FRLQFLGrQFLD PDLV SURYLGHQFLDO" $ IRUoD GHVVH VtPEROR PDUFDUi SDUD VHPSUH RV VHJXLGRUHV GH -HVXV
FRPRR%RP3DVWRUFXLGDUHGHIHQGHUDYLGDSURFXUDUREHPFRPXPFRPSURPHWHUQRVFRPDYHUGDGHWHUDV
DWLWXGHV GH &ULVWR D UHDOL]DomR GR VDFUDPHQWR GR 0DWULP{QLR IRL RXWUR PRPHQWR JUDQGLRVR GH SXUD H
VDQWDDOHJULDTXDQGRFDVDOSRUFDVDOHPVXDVFDSXODQDVFRORULGDVHYDULDGDVDFRPSDQKDGRGRVSDGULQKRVVH
FRORFRX GLDQWH GR VDFHUGRWH SURPHWHQGR ILGHOLGDGH P~WXD DFRPSDQKDGRV SRU XPD FRPXQLGDGH DWHQWD H
WDPEpPFRPSURPHWLGD7XGRFXOPLQRXFRPFDQWRHGDQoDSDOPDVHLOXOXVRVJULWRVGHOtQJXDHPVLQDOGH
DOHJULDHDSURYDomR6HJXLXVHDFHOHEUDomRHSRQWRDOWRIRLD&RPXQKmRVREDVGXDVHVSpFLHVGDGDDRVQRYRV
PHPEURVGD,JUHMDTXHUHFHEHUDPD(XFDULVWLDSHODSULPHLUDYH]1RILQDODOJREHPRULJLQDOFRPRULWRGRV
JXDUGDFKXYDVDEHUWRVSHORVSDGULQKRVVREUHRVFDVDLVFRPRTXHDSURWHJrORVSHORVFDPLQKRVGDYLGDHD
VDtGDVROHQHGHWRGRVFRPDSURFLVVmRGRVPLQLVWURV
e VHPSUH VROHQL]DGD D SURFLVVmR GDV RIHUHQGDV QDV JUDQGHV IHVWDV $VVLP YiULDV SURFLVV}HV FRP DV
GDQoDULQDV H RV SDUWLFLSDQWHV IL]HUDP GHVVH PRPHQWR DOJR WmR VLJQLILFDWLYR WUD]HQGR RV IUXWRV GD WHUUD
DOLPHQWRVRIHUWDVHPGLQKHLURHILQDOPHQWHRVGRQVGRSmRHGRYLQKRWXGRDRULWPRGDDOHJUHGDQoDHGRV
PRYLPHQWRVGRFRUSRDOJRTXHYHPGRIXQGRGDDOPDID]SDUWHGRVHUDIULFDQR,QWUDGX]tYHO
2 SRYR XPD PXOWLGmR HP IHVWD FRQWLQXRX UHXQLGR WDUGH DGHQWUR VRE DV iUYRUHV DJUXSDGRV SRU
IDPtOLDV JUXSRV H FRPXQLGDGHV FRP DOPRoR GRPLQJXHLUR SDUWLOKDGR HQWUH WRGRV FDUDFDWD [LPD H JDOLQKD
7XGRFRPXQLWiULRFRPRQDOLWXUJLDQRFRPHUMXQWRVGRPHVPRSUDWRQRSDUWLOKDUGRPHVPRDOLPHQWRFRP
DVPmRVHRFRUDomR8PDOLWXUJLDIHLWDGHORXYRUHYLGD
,U0LULD7.ROOLQJ
5()(51&,$67(,6
129,'$'(6(0&'V
&DQWDUHLDRPHX6HQKRU&GQDVFLGRGDH[SHULrQFLDHP0RoDPELTXH,U0LULD7.ROOLQJ3DXOXV
8PJULWRSHODYLGD3URMHWRGD&1%%SHOD3DXOXV
$DOHJULDGHVHUPLVVLRQiULRGLYHUVRVDXWRUHV3DXOXV
/X]GDOX])UHL-RVp0RDF\U&DQGHQDVVLHGLYHUVRVDXWRUHV3DXOXV
6DQWRVH6DQWDVGH'HXVYROXPH,HYROXPH,,&RRUGHQDomR,U0LULD3DXOXV
26HQKRUPLQKD)HVWDUHVJDWHGH0LVVDVFDQWRVLQFOXVLYHD0LVVDGD1RLWH)HOL],U0LULD7.ROOLQJ3DXOXV
&DQWRV&HOHEUDWLYRVUHVJDWHGH0LVVDVGH,U0LULD3DXOLQDV&20(3LQFOXVLYHDGRV%HPDYHQWXUDGRV
&DQWDUEULQFDQGREULQFDUFDQWDQGRFDQWRVGHDQLPDomRHEULQFDGHLUDVRUJDQL]DGRVSRU,U0LULD3DXOXV
(WHUQD)RQWH0LVVDHFDQWRVLQVSLUDGRVHP6DQWD7HUHVD'YLOD,U0LULD7KHUH]LQKD.ROOLQJ3DXOXV
6pULH &ROHomR /LWXUJLD &DQWRV GR +LQiULR /LW~UJLFR GD &1%% SDUD RV GLYHUVRV 7HPSRV /LW~UJLFRV /LW;,9
$QR&/LW;94XDUHVPD$QRV%H&)HVWDV/LW~UJLFDV/LWXUJLD;9,$QR$'LYHUVRV3DXOXV
&RP0DULD0mHGH-HVXV3H1H\%UDVLO3DXOLQDV&20(3
3DUWHV)L[DVSHOD&1%%+LQiULR/LW~UJLFRDXWRUHVGLYHUVRV3DXOXV6DQWRpR6HQKRU
$EUHWHy&pX,U0LULD7.ROOLQJ&DQWRVSDUDDSiVFRDGHXPLUPmRXPDLUPm3DXOXV
'HXVpERPUHIUmRVFRQWHPSODWLYRV,U0LULD7.ROOLQJ3DXOXV
&KDPDVWHPH6HQKRU5HIUmRVYRFDFLRQDLVGH)UHL7HOOHV5DPRVHRXWURV3DXOXV
/X]1RYDVHID]UHVJDWHGR/3,U0LULD7.ROOLQJ3DXOLQDV&20(3
&ULVWRFODUmRGR3DL)UHL7HOOHV5DPRQH)UHL'pFLR3DFKHFR3DXOXV
/,9526'(/,785*,$(&$172
,16758d2*(5$/'20,66$/520$12(,1752'8d2$2/(&,215,2(GLo}HV&1%%
,QVWUXomR*HUDOVREUHR0LVVDO5RPDQR&RPHQWiULRVGH-$/'$=%$/(',d(63$8/,1$6
6867(17$,&20$57($/289$d2$P~VLFDDVHUYLoRGDOLWXUJLDGH,U0LULD7.ROOLQJ(GLWRUD$YH
0DULD6mR3DXOR
&$1726(25$d(6(GLWRUD9R]HVFRPPDLVGHFDQWRVOLW~UJLFRVHGLomR$WH[WRSDUDRSRYRHHGLomR%HP
GRLVYROXPHVSDUWLWXUDHFLIUD&RRUGHQDomR,U0LULD7.ROOLQJ)UHL-RVp/XLV3ULPH)UHL$%HFNlXVHU
&$17$1'2266$/026($&/$0$d(6/LYURH&'VGXSORV$QRV$%H&&RRUGHQDomR,U0LULD3DXOXV
2),&,2',9,12'$6&2081,'$'(66DOPRVH&kQWLFRV$EHUWXUDVKLQRVUHIUmRV3DXOXV
/,785*,$'$6+25$6OLYURGHSDUWLWXUDVRUJDQL]DGRSHOR3H-RVp:HEHU3DXOXVSDUDDVFRPXQLGDGHVUHOLJLRVDV
(PIDVHGHJUDYDomRGLYHUVRV&'V
5HYLVLWDUR&RQFtOLR9DWLFDQR,,'RP'HPpWULR9DOHQWLQR(GLo}HV3DXOLQDV
9HUEXP'RPLQL([RUWDomR$SRVWyOLFD3yV6LQRGDOGR3DSD%HQWR;9,Q3DXOLQDV
2VHJUHGRGRVULWRV5LWXDOLGDGHHVDFUDPHQWDOLGDGHGDOLWXUJLDFULVWm,RQH%X\VW3DXOLQDV
2FDQWRFULVWmRQDWUDGLomRSULPLWLYD;DYLHU%D]XUNR3DXOXV
0~VLFDGDQoDHSRHVLDQD%tEOLD0DULD9LFWyULD7ULYLxR0RQUDEDO3DXOXV
&DWHTXHVHH/LWXUJLD'XDVIDFHVGRPHVPR0LVWpULR9DQLOGRGH3DLYD3DXOXV
&HOHEUDUD(XFDULVWLDFRPFULDQoDV-RVp$OGD]iEDO(GLo}HV3DXOLQDV
'RFXPHQWRVVREUHD0~VLFD/LW~UJLFD'RFXPHQWRVGD,JUHMD3DXOXV
/LWXUJLD-XGDLFDIRQWHVHVWUXWXUDRUDo}HVHIHVWDV&DUPLQH'L6DQWH3DXOXV
/LWXUJLDHP0XWLUmR,&1%%H,,&1%%*XLD/LW~UJLFR3DVWRUDOGD&1%%(GLo}HV&1%%
7pFQLFD9RFDO3ULQFtSLRVSDUDRFDQWRUOLW~UJLFR3DXOD0ROLQDUL3DXOXV
(XFDULVWLDDIDPtOLDGH'HXVHPIHVWD3H*UHJyULR/XW]3DXOXV&ROHomR&(/(%5$5$)e($9,'$
&HOHEUDQGRSRURFDVLmRGDPRUWH)UHL-RDTXLP)RQVHFD&'GLGiWLFRHOLYUR3DXOLQDV
REVISTAS:
5HYLVWDGH/LWXUJLD5XD&DUORV6LOYHLUD)UDQFR1HWR)ORUGR-DUGLP%DLUUR-DFDUp
&DEUH~YD63)RQH(PDLODVVLQDQWH#UHYLVWDGHOLWXUJLDFRPEU
9LGD3DVWRUDO5HYLVWDELPHVWUDOSDUDVDFHUGRWHVHDJHQWHVGHSDVWRUDO3DXOXVFRQWULEXLomRHVSRQWkQHD
$GPLQLVWUDomRSHGLGRV&[3RVWDO6mR3DXOR63
7HORX(PDLOSHULyGLFRV#SDXOXVFRPEU
5HYLVWD$9(0$5,$5XD0DUWLP)UDQFLVFR6mR3DXOR63
)RQHUDPDO(PDLOUHYLVWD#DYHPDULDFRPEU6LWHZZZDYHPDULDFRPEU
6,7(6HHPDLOV~WHLV
&1%%OLWXUJLD#FQEERUJEUVLWHZZZFQEERUJEU6HWRUGH0~VLFDGD&1%%PXVLFD#FQEERUJEU
6HUYLoRGH$QLPDomR/LW~UJLFD6$/ZZZOLWXUJLDSUREU
3DXOXVZZZSDXOXVFRPEU9R]HVZZZYR]HVFRPEU
3DXOLQDVZZZSDXOLQDVRUJEUHPDLOFRPHS#SDXOLQDVFRPEUJUDYDGRUD
/R\ROD+RPH3DJHHYHQGDVZZZOR\RODFRPEU
&DWROLFDQHWZZZFDWROLFDQHWFRPEU
5HGH&HOHEUDZZZUHGHFHOHEUDFRPEUZZZOLWXUJLDSRUDPRUFRPEU
6XEVtGLRVSDUDFDQWRVOLW~UJLFRVDRORQJRGRDQRSDUWLWXUDVHPLGZZZVDRVHEDVWLDRSDURTXLDFRPEU
6LWHSDUDSDUWLWXUDVGLYHUVDVLQFOXVLYH6DOPRV5HVSRQVRULDLVZZZFDQWHPRVFRPEU
/HLWXUD2UDQWHGD3DODYUDZZZOHFWLRQDXWDVFRP([FHOHQWH
&(/08VHFUHWDULD#FHOPXFRPEUFHOPX#FHOPXFRPEU)RQHID[
([FHOHQWHVLWHFDWyOLFRTXHVW}HVHVFODUHFLPHQWRVZZZPRQWIRUWRUJEU
,UPm0LULD7KHUH]LQKD.ROOLQJHPDLOLUPLULD#JPDLOFRPVLWHZZZLUPDPLULDFRPEU
(GLWRUDomRHOHWU{QLFDGDVSDUWLWXUDV
(XULYDOGR6LOYD)RQHHPDLOHXULIHUUHLUD#JPDLOFRP
A
Ttulo
Hoyo hoyo (Acolhida).......................................................................................................................................
Pg.
1
2
3
4
5
5
6
6
7
8
8
8
9
9
10
11
11
12
13
14
15
16
17
18
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
1.
19
19
19
20
20
20
21
21
21
22
22
23
23
24
24
25
25
26
27
28
29-30
30
31
32
32
33