This is according to data released by the Bank of Ghana.
According to the data, the debt stock increased by GHC2 billion in three months from March to May.
The external component of the debt is pegged at $20.5 billion while the domestic component is at GHC94 billion.
The figures were contained in the Summary of Economic and Financial Data.
Meanwhile, in the Banking sector, the total assets of banks in the country grew to GHC112.8 billion by July 2019 compared to GHC100.3 billion in the same period under review.
In a related development, non-performing loans of banks dropped to 18.1% in July 2019 from 22.6% in July 2019.