First female IMF chief receives praise from former hometown of Chicago

At the same time, international finance experts agree Lagarde's leadership and financial skills will be immediately tested with the current crisis in Greece that is threatening to undermine Europe and the entire global economy.

"Christine was an effective leader who used her intellect, discipline and diplomacy to take our firm to new heights," the law firm Baker & McKenzie said in a statement to Xinhua. "As the first female chair of a global law firm, she inspired so many of us with her grace, humanity and consensus-building approach, leaving a lasting impact on our firm and on the legal profession."

Those skills would prove helpful as Lagarde navigates the turbulent current economic and political landscape, said Prof. Martin Eichenbaum, co-director of the Center for International Economics and Development at Chicago's Northwestern University.

"Christine Lagarde is a very distinguished figure with a lot of experience," Eichenbaum told Xinhua. "I think what she brings to the table is perhaps common sense and political expertise."

Eichenbaum, who also serves as a consultant at the Federal Reserve Bank of Chicago, said Lagarde's most immediate task is to address the Greek fiscal problem, which is now degenerating into violence, while keeping a close eye on the continuing global imbalances.