Yes.
Central and South America are rather big places with a lot of variety. I used the same approach I have on other tours:
1. If locals drink from the taps, I typically do too.
2. I bring a filter. I like the Sawyer Filter, use it for ground water and occasionally tap water as well.
3. Bottled water is generally also for sale. I'll buy some when I am suspicious or sometimes to get across long gaps without ground water if my bottles aren't enough.