The demonstration was sparked by public anger over a $1 billion banking scandal which has shaken the former Soviet country, one of the poorest countries in Europe.
"We will stay here until our demands are fully met," shouted lawyer Andrei Nastase, one of those who organised the rally.
Organisers said between 50,000 and 100,000 demonstrators had gathered in Chisinau's central square to demand Timofti's resignation and a plebiscite to chose a new head of state, who is currently elected by parliament.
They also called for the resignation of top officials at Moldova's central bank and the attorney general's office, demanding the government pursue integration efforts with Europe.
Leaders of the demonstration presented their demands to Moldova's new pro-European premier, Valeriu Strelet, who took up the post at the end July pledging to crack down on corruption.
Note
Moldova lies between Ukraine and Romania
Russia maintains thousands of troops in Moldova's breakaway region of Transdniestr, and has for years provided money to prop up the impoverished region of 500,000 people, which is home to some 180,000 Russian nationals.
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