Changing project settings when checkout a branch

Hi all,  there is an Ant-based project which is organized so that some external libraries are referenced in the project via "Global Libraries". The project is not that big and current devel is done on git branch 'master'.
Now we want to upgrade one of those global libraries to a newer version. A branch has been created in the project for that migration so the development does not interfere the main trunk.
Problem is, that the reference to the old version of the ext. library remains even when checkout the migration branch. That means, we have to always reconfigure the project setting by remove the old global lib from project and add the new one via File->PrjSettings->Modules->Dependencies in order to get the IDE to know about the new classes and methods in that library. After ending development and switching back to trunk, the reconfiguration in the project settings (module deps) must be done in reverse.

Is there a (hidden?) trick to automatically reconfigure project settings (at least the module dependencies) when switching a branch?  There is something about "workspace" but it seems that does not include the deps.

Thanks!