 Weisbrot has been described as the "intellectual architect" behind the unsuccessful Bank of the South, a joint project by Argentina, Brazil, Paraguay, Uruguay, Ecuador, Bolivia and Venezuela which was spearheaded by Venezuelan president Hugo Chávez.He criticized the role played by the IMF while taking an active role in promoting the bank, describing the Bank of the South as "another Declaration of Independence for South America" and that it was "Latin America casting off Washington's shackles".Weisbrot co-authors with CEPR a series of papers looking at the progress in economic growth and social indicators.