All of the official servers have a ping too high, (200+) witch makes them a bad choice, try to run from someone or hit a player with a bow)
Community local server have a good ping and a fair number of players, but, most of them have problems with ADM abuse, instability and late or none updates.
I strongly believe that Latin America, more than 20 countries, has a population of Rust players big enough to get a server (BRAZIL + ARGENTINA only allready covers it). If Facepunch don't believe so, should see this as an investment.
I would like to hear from a representative.
cheers
EDIT: If I wasn't clear enough, I'm asking for a official server.
Currently there is a recently launched server called "BRAZIL FREELAND" with 64km2 and 500 slots running in fiber optics connection. I guess your problems are solved.