The study looked at whether Albania should borrow money from foreign countries or from within its own borders. By analyzing data from 1996 to 2018, the researchers found that factors like interest rates and exchange rates affect the country's public debt. They discovered that the monetary base and exchange rate have a positive impact on public debt, while the lending interest rate has a negative impact. The trend of public debt in Albania doesn't match the trend of long-term government bond yields for the Euro Area, mainly due to ineffective management of external borrowing. This research provides valuable insights for policymakers on how to manage public debt effectively.