Aquilino Boyd's contentions {op-ed, July 13} that the accusations leveled against Panama's corrupt kleptocracy are "strictly hearsay and would not stand up in court" are the most cynical and least credible of his 19 off-and-on years of service to the military dictatorship.

Conveniently, Mr. Boyd chooses to ignore the fact that the accusations against Gen. Manuel Antonio Noriega have been widely documented in the U.S. media and in Congress. Maybe he was not around the United States at that time, when there were extensive reports on the brutal murder of Dr. Hugo Spadafora and the 1984 electoral fraud, just to mention a couple of the most notorious crimes attributed to Gen. Noriega.

Furthermore, any journalist versed in U.S.-Panama relations would attest to repeated efforts made by the top echelons of the State Department and the Pentagon, not to mention the White House, to prevent these stories from ever seeing the light of day -- mostly to avoid having to comment on them. If Mr. Boyd searches the record, he will find that none of the U.S. agencies has denied these accusations. Why? Because as many courageous congressmen know well, from classified briefings made to different committees, U.S. intelligence agencies have ample proof of all of Gen. Noriega's misdeeds. The reason this proof has not surfaced might be found in a recent investigative report by a most serious U.S. newspaper, which ties the CIA to the use of drug-lord couriers and Gen. Noriega.

That Mr. Boyd questions the basic judgment of recently retired Col. Roberto Diaz Herrera is just another form of recognition of the amorality of the top echelon of Panama's military. After all, the colonel has been part and parcel of the autocratic corruption that has plagued Panama ever since our democratic institutions were overturned in October 1968 by the military coup. The anger and frustration vented by Panamanians in the streets is not for Col. Diaz Herrera, but against Gen. Noriega and his military gang, who call the shots for civilian opportunists such as Mr. Boyd.

The pseudo-nationalistic, anti-Yankee ploy to whip up support for the dictatorship has already fallen flat on its face. Resolutions of support for the democratic forces of Panama, who continue peaceful demonstrations even after being met with the brutality of Gen. Noriega's U.S.-trained troops, continue to arrive from abroad. Just the other day, West German parliamentaries sent the same kind of message of solidarity that the U.S. Senate overwhelmingly approved on June 26. Several South American democracies have similar bills pending in their parliaments.

Mr. Boyd's admission that Panamanians want democracy is a recognition that we have been ruled by a dictatorship for almost 19 years. To pretend that the Panamanian people should wait for democracy a minute longer is a ploy by Mr. Boyd to maneuver Gen. Noriega into tapping him in 1989 to be his sixth "Kleenex" (to be used and thrown away) president in as many years. I. ROBERTO EISENMANN JR. Miami The writer is editor and publisher of Panama's La Prensa.