Arsenal spent around £70m on four players last summer - Lucas Torreria, Matteo Guendouzi, Sokratis and Bernd Leno with Stephan Lichtsteiner also arriving on a free transfer - and signed striker Pierre-Emerick Aubameyang for a club record £56m in January 2018.
Arsenal, however, are looking for a loan deal for the player and Emery has revealed that the Gunners can not afford to pay for any transfer fees and are looking for a loan deal.
"We can't sign with payment for one player", Emery said at a news conference on Thursday.
"We can not sign anyone permanently".
Emery has already acknowledged that the club are seeking potential loan deals for the window with the obligation to buy and such kind of approach could hamper their prospects of signing Carrasco. But at the moment I don't have news on that.
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"I don't know his situation now", Emery said.
"If we can find one player who can help us like we need, with the quality and a different player for getting in our squad, we are going to do it".
"My idea and focus, I say to him every day, is that we need his performance for us", he said.
"I know this player and he's a very good player", Emery went on. Every day he's here with us, he's working very well. Shkodran Mustafi and Konstantinos Mavropanos are all back in full training and under consideration for the weekend. "In the last match [against Blackpool in the FA Cup] I was very happy with him". This training session is important [to work out who can play].