The Greek government might be preparing to return to the bond market but there are many structural problems that have yet to be resolved to make the economy more sustainable, an analyst told CNBC on Friday.
Greece is currently on a third financial program since 2010, due to expire next year. According to James Athey, fixed income investment manager at Aberdeen Asset Management, despite the reforms implemented until now, "it still doesn't seem we are particularly far down the road in solving the structural issues of Greece."
"Until the Greek economy has got a business model which works and it's productive and it's creating stable, secure growth that it's not reliant on debt relief, external support and constantly bailouts from the Europeans, then it's difficult to believe that the path is towards something more healthy rather than something less healthy," Athey told CNBC on Friday.
The International Monetary Fund agreed Thursday to make a loan of $1.8 billion to Greece as part of its current bailout program, but warned that the country will have to continue reforming in order to receive that money.