This paper discusses the importance of effective public debt management for fiscal sustainability, economic stability, and growth. It examines different types of public debt and lessons learned from countries with high debt burdens. The paper provides a comparative analysis of public debt levels across countries and discusses debt sustainability analysis, highlighting the impact of public debt on economic growth. Various public debt management strategies are discussed, with a focus on emerging trends. The research emphasizes the need for sustainable financing, particularly through green and social bonds, and the integration of advanced technologies. The paper also emphasizes the development of local currency bond markets and enhanced risk management practices to reduce dependency on foreign debt and mitigate market risks. The paper concludes that, although scholars have exhaustively reviewed public debt in various countries around the world, the dynamics of public debt are still evolving. The study recommended promoting sustainable financing for improving public debt management practices among others.