An interesting idea, and could it be done? Possibly by re-engineering the locking block and the accelerator arm timing to handle the higher pressures. Plus likely rework the bolt face, extractor, feed cover and feedway, new barrel, new booster cone....
But the real question is why would a chump third world nation still running ancient 1919's want to spend the money to upgrade obsolete firearms to a new fad of a cartridge? If they can't afford to upgrade to at least mid 1960's technology like the M240, why on earth would they spend the money to engineer a gun that is heavier and more out of date to this new cartridge?
I think you are seriously underestimating the cost the rework a gun to a new caliber with way higher chamber pressures. You basically are designing a new gun but locked into the envelope of an existing very outdated one.
Sven
Manticore Arms