I realize your location may limit the availability of more suitable bikes but that bike is going to cost way more to modernize than you think and the brakes are the least of it.

You will need:

STI shifters
Compatible rear derailleur
Compatible front derailleur
Compatible freewheel
Possibly a new rear wheel with a freehub and cassette
New matching chain
Probably a compatible handlebar and stem.

Consider all of this before proceeding. A newer, more modern bike may indeed be a better starting point.