Nope, your best bet is to choose an unofficial one amongst your community. Like many SEA-region countries have chosen Tonberry as their unofficial server, for instance. I don't know if any of the south american community has chosen to congregate on a particular server or not though. Considering the EU servers aren't actually in Europe, it is highly unlikely there will ever be servers in south america.

Does WoW have servers physically located in brazil? or any other major MMO for that matter? Would be the first I've heard.