The International Monetary Fund announced on Tuesday afternoon it has overhauled its credit line program to encourage countries vulnerable to foreign shocks to turn to the fund, as European leaders struggle the most to halt the unending debt crisis.

The IMF Managing Director said an a e-mailed statement, The reform enhances the fund's ability to provide financing for cirisis prevention and resolution, and this is another step toward creating an efffectiv egoabl financial safety net to deal with increased global interconnectedness.

The IMF reassured it will continue to offer its flexible credit line, paving a new exit for countries currently facing short-term liquidity needs, and particularly, countries that are dangerously exposed to Europe's debt woes, increasing hopes that EU leaders may be having more options in hand to tackle their debt crisis.