Robert Kuenzel, director of euro area research at Daiwa Capital Markets, said in a note Wednesday that further repayments due to the IMF meant "the nail biting over Greece looks set to continue."
Contentious negotiations over a reforms-for-loan deal between Greece and its international bailout supervisors are still ongoing, meaning an immediate cash disbursement seems out of the question, Kuenzel said. Greece will again have to "fend for itself in meeting the 750 million repayment due to the IMF."
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"(The repayments) no doubt put further strain on the Greek government's already dire cash situation," he said. "Meanwhile, reform negotiations…will probably leave a large chasm between Greece's reform proposals and creditors' demands."
Greek Finance Minister Yanis Varoufakis sounded a positive note on Tuesday, saying enough progress had been made to make for "fruitful discussions" at the next meeting of euro zone finance ministers (called the Eurogroup) on May 11, according to Reuters.
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However, Kuenzel was unconvinced.
"Notwithstanding yesterday's claim by Greece's vociferous finance minister of 'great progress' having been made in talks this week, the proverbial bones of contention (labor market and pension reforms, as well as fiscal targets) appear too politically sensitive for a comprehensive agreement to be reached in time for next Monday's Eurogroup," he said.