Investors are keeping a close eye on the meeting, however. In the last week, Greece's borrowing costs have spiked and its banking stocks fallen on the back of fears that the country is about to default on its debt repayments to the IMF and ECB.
It came as the Greek government ordered local state bodies to transfer their idle cash reserves into the country's central bank in a bid to cover its funding needs.
The move raised eyebrows among economists who have been wondering how much longer Greece can pay its domestic and international bills.
"Greece remains at the forefront of the markets mind, with one of the major questions being when exactly will the country run out of cash," a note from Rabobank's rate strategy team said Thursday.
They said Greece could "hold out" until at least the end of May before having to choose between external creditor payments and politically unavoidable domestic payments. But whether the ECB was willing to keep on extending emergency liquidity assistance (ELA) to Greek lenders was another matter, they added.
As such, Rabobank said a deal Friday was unlikely.
"This simply reinforces the point that a resolution to the Greek crisis is very unlikely at the 24th April informal Eurogroup meeting or the formal one in Brussels on 11th May," the note said. "The other factor to consider is that the ECB may be unwilling to let things drag on for as long as the cash position implies."