Yes, I guessed so. But I suggested it because you can't know what is disallowing you from launching your game.
Are you able to launch your single player without any problems?
If you are able to launch your single player without any issues, then the problem is most likely from the IVMP client itself.
I had a similar problem in the past, and what caused it seemed to be missing files in the IVMP folder. What I've done is completely removing GTA IV, as well as the IVMP folder (removed whole folder), and then installed it again, restarted my computer and it worked. I'm not sure if this is going to help you, but try reinstalling your IVMP if you recently installed GTA IV, try using the "Verify Integrity of Game cache" as it may help you getting missing files, or fix current damaged one.