This study analyzes Türkiye’s century-long external borrowing process and evaluates its impact on economic growth and development. Turkey's external debt policies have been shaped by global economic fluctuations, crises, and political transformations. Beginning with the assumption of Ottoman debts during the early Republican years, this process evolved into a new phase with integration into global markets and financial liberalization after the 1980s. While external borrowing has provided significant resources for infrastructure investments and economic growth, mismanagement has heightened economic vulnerabilities. Challenges in debt servicing, particularly during crises, have had profound economic impacts. The study emphasizes the critical importance of effective debt management for economic stability, highlighting the necessity of supporting borrowing policies with long-term strategies.