Hi
If you want to work in South America, First of all you will have to convert to the Local ICAO CPL or ATPL license.
I converted my EASA licence to ICAO in Venezuela and it was a very straight forward process.
I have dual citizenship which allows me to work in Venezuela so I would double check with the Local aviation authority if you can work as a foreign in that particular country. They will convalidate and give you a licence but with a restriction of not working for Hire.
And Regards to Mr.Travis comments, I don't agree that Airlines prefer FAA over EASA, on the contrary I would say.
I hold FAA, EASA and ICAO licenses so I can make my own opinion and both worlds have goods and bads.
But I wouldn't suggest someone that wants to go to south america to get an FAA licence if your FAA licence is good only for N-REG A/C...
I do not mean any disrespect to the FAA or anything I love flying in the USA, I find it a fantastic place to fly!!
There is plenty of jobs in south america, but citizenship, passport or right to work can be a big impediment.